Failed Bank Information for Farmers Bank of Cheneyville, Cheneyville, LA

Information for the Farmers Bank & Trust of Cheneyville, Cheneyville, LA

1. Introduction
2. Press Release
3. Acquiring Financial Institution
4. Priority of Claims
5. Dividend Information
6. Receivership Termination

I. Introduction

On December 17, 2002, The Farmers Bank & Trust of Cheneyville, Cheneyville, LA, was closed by the State of Louisiana, Office of Financial Institutions, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. As Receiver, the FDIC is charged with winding up the business affairs of the failed financial institution. This includes the disposition of assets and liabilities of the failed financial institution and payment of dividends to approved creditors in order of priority.

The FDIC, as Receiver, has taken all necessary actions to conclude the affairs of the failed financial institution, made all dividend distributions as required by law and the receivership estate is deemed terminated.

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II. Press Release

The FDIC has issued a press release about the institution's closure. If you represent a media outlet and would like information about the closure, please contact the FDIC Public Affairs Office at (202) 898-6993.

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III. Acquiring Financial Institution

All insured deposit accounts were transferred to Sabine State Bank & Trust, Many, LA, and were available as usual during regular business hours at the following Sabine State Bank & Trust office:

603 Front St.
Cheneyville, LA 71325

Phone: (318) 279-2141

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VIII. Priority of Claims

The dividend process is complete. In accordance with Federal law, allowed claims are paid, after administrative expenses, in the following order of priority:

1. Depositors
2. General Unsecured Creditors
3. Subordinated Debt
4. Stockholders

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IX. Dividend Information

Dividend History on The Farmers Bank & Trust of Cheneyville
Dividend Information on Failed Financial Institutions

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VI. Receivership Termination

The FDIC as Receiver for The Farmers Bank & Trust of Cheneyville has taken all actions necessary to terminate the Receivership Estate.

The Receiver published legal notice of intent to terminate the receivership in the Arkansas Democrat Gazette on November 7, 2003.

The Receiver has made all dividend distributions required by law.

Effective February 1, 2005, the Receivership Estate has been terminated, the Receiver discharged, and the Receivership Estate has ceased to exist as a legal entity.

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