[¶10,774] In the Matter of The Bank of Delaware Valley, Fairless Hills, Pennsylvania, Docket No. FDIC-93-86q (4-28-93).
Liability for bank's deposits having been assumed by another institution, FDIC terminates bank's insurance.
In the Matter of
THE BANK OF DELAWARE
FAIRLESS HILLS, PENNSYLVANIA
(Insured State Nonmember Bank)
ORDER OF APPROVAL
OF TERMINATION OF
Pursuant to section 8(q) of the Federal Deposit Insurance Act ("Act"), 12 U.S.C. § 1818(q), and section 18(i)(3) of the Act, 12 U.S.C. § 1828(i)(3), the Federal Deposit Insurance Corporation ("FDIC"), having found that Prime Savings Bank FSB, Philadelphia, Pennsylvania ("Prime Savings Bank FSB"), has provided to the FDIC, on April 19, 1993, satisfactory evidence that it has assumed the liabilities for deposits of The Bank of Delaware Valley, Fairless Hills, Pennsylvania ("The Bank of Delaware Valley"), as of December 31, 1992, as required by section 307.1 of the FDIC's Rules and Regulations, 12 C.F.R. § 307.1, and that Prime Savings Bank FSB has notified The Bank of Delaware Valley's depositors of its assumption of their deposits, hereby issues the following ORDER:
IT IS HEREBY ORDERED, that the status of The Bank of Delaware Valley as an insured State nonmember bank be, and hereby is, terminated on April 19, 1993.
IT IS FURTHER ORDERED, that the separate insurance of all deposits assumed by Prime Savings Bank FSB from The Bank of Delaware Valley shall terminate at the expiration of June 30, 1993, or in the case of any time deposit, the earliest maturity date after June 30, 1993, as provided in section 8(q) of the Act, 12 U.S.C. § 1818(q).
Dated at Washington, D.C., this 28th day of April, 1993.
Pursuant to delegated authority.