[¶10,991] In the Matter of The Dime Savings Bank of New Jersey, Somerset, New Jersey, Docket No. FDIC-94-61q (6-13-94).
Liability for all bank's deposits having been assumed by another institution, FDIC terminates bank's insured status.
In the Matter of
THE DIME SAVINGS BANK OF
(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 The Dime Savings Bank of New York, FSB, Garden City, New York ("The Dime Savings Bank of New York"), has provided to the FDIC on December 17, 1993, satisfactory evidence that is has assumed the liabilities for deposits of The Dime Savings Bank of New Jersey, Somerset, New Jersey ("The Dime Savings Bank of New Jersey"), as of November 19, 1993, as required by section 307.1 of the FDIC's Rules and Regulations, 12 C.F.R. § 307.1, and that The Dime Savings Bank of New York has notified the depositors of The Dime Savings Bank of New Jersey of its assumption of their deposits, hereby issues the following ORDER:
IT IS HEREBY ORDERED, that the status of The Dime Savings Bank of New Jersey as an insured State nonmember bank hereby is terminated as of December 17, 1993.
IT IS FURTHER ORDERED, that the separate insurance of all deposits assumed by The Dime Savings Bank of New York from The Dime Savings Bank of New Jersey shall terminate at the expiration of May 19, 1994, or, in the case of any time deposit, the earliest maturity date after May 19, 1994, as provided in section 8(q) of the Act, 12 U.S.C. § 1818(q).
Dated at Washington, D.C., this 13th day of June, 1994.
Pursuant to delegated authority.