[¶10,929] In the Matter of First Professional Bank, Salt Lake City, Utah, Docket No. FDIC-93-248q (12-30-93).
Liability for all bank's deposits having been assumed by another institution, FDIC terminates bank's insured status.
In the Matter of
FIRST PROFESSIONAL BANK
SALT LAKE CITY, UTAH
(Insured State Nonmember Bank)
ORDER OF APPROVAL OF
TERMINATION OF INSURANCE
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 First Security Bank of Utah, National Association, Ogden, Utah ("First Security"), has provided to the FDIC on December 6, 1993, satisfactory evidence that it has assumed the liabilities for deposits for First Professional Bank, Salt Lake City, Utah ("First Professional"), as of November 30, 1993, as required by section 307.1 of the FDIC's Rules and Regulations, 12 C.F.R. § 307.1, and that First Security has notified First Professional's depositors of its assumption of their deposits, hereby issues the following ORDER:
IT IS HEREBY ORDERED, that the status of First Professional as an insured State nonmember bank, hereby is, terminated as of December 6, 1993.
IT IS FURTHER ORDERED, that the separate insurance of all deposits assumed by First Security from First Professional shall terminate at the expiration of June 6, 1994, or in the case of any time deposit, the earliest maturity date after June 6, 1994, as provided in section 8(q) of the Act, 12 U.S.C. § 1818(q).
Dated at Washington, D.C., this 30th day of December, 1993.
Pursuant to delegated authority.