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[¶11,222] In the Matter of Citizens First National Bank of Wolf Point, Wolf Point, Mont., Docket No. FDIC-95-75q (9-6-95).
Liability for all of bank's deposits having been assumed by another institution, FDIC terminates bank's insured status.
In the Matter of
CITIZENS FIRST NATIONAL BANK
OF WOLF POINT
WOLF POINT,MONTANA
(Insured National Bank)
ORDER OF APPROVAL
OF TERMINATION
OF INSURANCE
FDIC-95-75q
Pursuant to section 8(q) of the Federal Deposit Insurance Act (the "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 Community Bank, Glasgow, Montana ("First Community Bank"), has provided to the FDIC on June 28, 1995, satisfactory evidence that it has assumed the liabilities for deposits of Citizens First National Bank of Wolf Point, Wolf Point, Montana ("Citizens"), as of May 31, 1995, as required by section 307.1 of the FDIC's Rules and Regulations, 12 C.F.R. § 307.1, and that First Community Bank has notified Citizens' depositors of its assumption of their deposits, hereby issues the following ORDER:
ORDER
IT IS HEREBY ORDERED, that the status of Citizens as an insured national bank, hereby is terminated as of June 28, 1995.
IT IS FURTHER ORDERED, that the separate insurance of all deposits assumed by First Community Bank from Citizens shall terminate at the expiration of November 30, 1995, or in the case of any time deposit, the earliest maturity date after November 30, 1995, as provided in section 8(q) of the Act, 12 U.S.C. § 1818(q).
IT IS FURTHER ORDERED, that First Community Bank shall give notice of such
{{11-30-95 p.C-4092}}assumption to each of the depositors of Citizens within thirty days after such assumption has taken effect, if it has not already done so, in a manner acceptable to the Regional Director of the FDIC's San Francisco Regional Office.
Dated at Washington, D.C., this 6th day of September, 1995.
Pursuant to delegated authority.
