Each depositor insured to at least $250,000 per insured bank



Home > Regulation & Examinations > Laws & Regulations > Decisions on Bank Applications





Decisions on Bank Applications

Skip Left Navigation Links
0
Decisions on Bank Apps Home
Investments & Activities

   •  Equity Securities
   •  Real Estate
   •  Insurance
   •  Miscellaneous
Deposit Insurance
Merger Transactions
Mutual to Stock Conversions
Part 347
Other Applications
Miscellaneous - Pledge of assets to secure private deposits
Bank may continue to collateralize the uninsured portion of non-public deposits of a depositor where accounts were originally collateralized prior to enactment of Section 24 of FDI Act.

Disclaimer
The following list shows those activities and investments approved by the FDIC under Section 24 of the Federal Deposit Insurance Act and Part 362 of the FDICís Rules and Regulations, 12 C.F.R. Part 362. The list provides insured state banks and their counsel some initial guidance regarding activities and investments that the FDIC may approve under Section 24. However, the fact that a particular activity or investment has received FDIC approval in the past does not affect the obligation of another institution to seek permission from the FDIC to engage in the same or similar activity. Additionally, the fact that a particular investment or activity has been approved in the past does not restrict the FDIC's review of future requests to engage in similar activities nor our ability to impose prudential standards on the conduct of that activity. Finally, it should be borne in mind that since the time any particular application was approved, key statutory or regulatory changes may have taken place, which might impact how the issues would be treated today.

CAROLINA COMMERCIAL BANK - ALLENDALE, SC
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Board Action 5/6/1997   12.65%
Applicant seeks permission to continue to pledge bank assets to secure the non-public deposits of two IRA account holders with aggregate balances in excess of the FDIC deposit insurance limits. Carolina Commercial Bank


COMMUNITY SAVINGS BANK - BURLINGTON, NC
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Board Action 4/9/1996 1M  
Applicant seeks to collateralize the uninsured portions of eight non-public deposits. Community Savings Bank


THE ANCHOR BANK - MYRTLE BEACH, SC
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Board Action 4/22/1997   9.58%
Applicant seeks permission to collateralize the uninsured portion of the non-public deposits of one individual with an aggregate balance over the FDIC deposit insurance limit. The Anchor Bank


FSB MOORE COUNTY - S. PINES, NC
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Board Action 12/17/1996   47.07%
Application to continue the collateralization of the uninsured portions of the non-public deposits of account holders. First Savings Bank of Moore County, Inc., SSB




Last Updated 03/24/2011 Legal@fdic.gov