[¶11,878] In the Matter of The First Bank of Mitchell, Mitchell, Indiana, Docket
No. 01-168q (12-20-01).
Status of bank as insured federal savings association terminated.
In the Matter of
THE FIRST BANK OF MITCHELL MITCHELL, INDIANA (Insured Federal Savings Association)
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 Union Federal Bank of Indianapolis,
Indianapolis, Indiana ("Union"), has provided to the FDIC on
October 9, 2001, satisfactory evidence that it has assumed a portion of
the liabilities for deposits of The First Bank of Mitchell, Mitchell,
Indiana ("Mitchell"), as of September 28, 2001, and that
Bloomfield State Bank, Bloomfield, Indiana ("Bloomfield"), has
provided to the FDIC on October 22, 2001, satisfactory evidence that it
has assumed the remaining deposits of Mitchell, also as of September
28, 2001, as required by section 307.1 of the FDIC's Rules and
Regulations, 12 C.F.R. §307.1, and that Union and Bloomfield have
notified Mitchell's respective depositors of the assumption of their
deposits, hereby issues the following ORDER:
IT IS HEREBY ORDERED, that the status of Mitchell as an insured
federal savings association be, and hereby is terminated as of October
IT IS FURTHER ORDERED, that the separate insurance of all deposits
assumed by Union and Bloomfield from Mitchell shall terminate at the
expiration of March 28, 2002, or, in the case of any time deposit, the
earliest maturity date after March 28, 2002, 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 20th day of December, 2001.