Failed Bank Information
Information for The Malta National Bank, Malta, OH
- Introduction
- Press Release
- Acquiring Financial Institution
- Priority of Claims
- Dividend Information
- Receivership Termination
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I. Introduction
On May 3, 2001, The Malta National Bank, of Malta, OH was closed by the Office of the Comptroller of the Currency, 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.
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.
III. Acquiring Financial Institution
All deposit accounts were transferred to North Valley Bank, Zanesville, OH and were available as usual during regular business hours at:
10 Third Street,
Malta, OH 43758
Phone: (740) 962-4266
IV. Priority of Claims
The dividend process is complete. In accordance with Federal law, allowed claims will be paid, after administrative expenses, in the following order of priority:
- Depositors
- General Unsecured Creditors
- Subordinated Debt
- Stockholders
V. Dividend Information
Dividend Information on Failed Financial Institutions
VI. Receivership Termination
The FDIC, as Receiver for The Malta National Bank as taken all actions necessary to terminate the Receivership Estate.
The Receiver published legal notice of intent to terminate the receivership in the Federal Register on September 18, 2001.
The Receiver has made all dividend distributions required by law.
Effective December 1, 2002, the Receivership Estate has been terminated, the Receiver discharged, and the Receivership Estate has ceased to exist as a legal entity.