Decision
By letter dated January 12, 2001, you filed an appeal with the Federal
Deposit Insurance Corporation (“FDIC”) concerning the denial of your
earlier request for a revision of the assessment risk classification
assigned to [Bank A]. A merged under the charter and with the title of
[Bank B] (”Bank”), on January 22, 2001, and the Bank assumed the obligation
of A for the assessment payments due for the semiannual assessment period
beginning January 1, 2001.
At its meeting held on May 8, 2001, the FDIC’s Board of Directors
(“Board”) considered the appeal and determined that the appeal should be
granted. The Board determined that the risk classification assigned to A
should be changed from “2 C” to “1B” for the semiannual assessment period
beginning January 1, 2001. This decision is based upon the Board’s
consideration of all of the relevant facts in this case, including the
applicable law and all of the information presented in your letter of
appeal.
You may contact Ms. Cheryl Timmons, Chief, Assessment Operations Section
of the FDIC’s Division of Finance at (202) 416-7546 with questions on the
method and timing of any refunds or credits that result from this action.
By direction of the FDIC’s Board of Directors.
