[¶11,778] In the Matter of American State Bank, Portland, Oregon, Docket No.
Status of bank as insured state nonmember bank terminated.
In the Matter of
AMERICAN STATE BANK PORTLAND, OREGON (Insured State Nonmember Bank)
ORDER OF APPROVAL OF TERMINATION OF INSURANCE
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 Albina Community Bank, Portland,
Oregon ("Albina Bank"), has provided to the FDIC on December 15,
2000, satisfactory evidence that it has assumed the liabilities for
deposits of American State Bank, Portland, Oregon ("ASB"), as of
December 4, 2000, as required by section 307.1 of the FDIC's Rules and
Regulations, 12 C.F.R. §307.1, and that Albina Bank has notified
ASB's depositors of its assumption of their deposits, hereby issues
the following ORDER:
IT IS HEREBY ORDERED, that the status of ASB as an insured state
nonmember bank be, and hereby is, terminated as of December 15, 2000.
IT IS FURTHER ORDERED, that the separate insurance of all deposits
assumed by Albina Bank from ASB shall terminate at the expiration of
June 4, 2001, or, in the case of any time deposit, the earliest
maturity date after June 4, 2001, as provided in section 8(q) of the
Act, 12 U.S.C. §1818(q).
Pursuant to delegated authority.
Dated at Washington, D.C., this 3rd day of April, 2001.