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{{12-31-02 p.C-5604}}

   [11,975] In the Matter of First American Savings bank, F.S.B., Omaha, Nebraska, Docket No. 02-135q (10-9-02)

   Status of bank as insured federal savings bank terminated.

In the Matter of
(Insured Federal Savings Bank)


   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 Savings Bank, Beresford, South Dakota ("FSB"), has provided to the FDIC on September 12, 2002, satisfactory evidence that it has assumed the liabilities for deposits of First American Savings Bank, F.S.B., Omaha, Nebraska ("Bank"), as of August 3, 2002, as required by section 307.1 of the FDIC's Rules and Regulations, 12 C.F.R. §307.1, hereby issues the following ORDER:


   IT IS HEREBY ORDERED, that the status of the Bank as an insured federal savings bank be, and hereby is, terminated as of September 12, 2002.

   IT IS FURTHER ORDERED, that the separate insurance of all deposits assumed by FSB from the Bank shall terminate at the expiration of February 3, 2003, or, in the case of any time deposit, the earliest maturity date after February 3, 2003, as provided in section 8(q) of the Act, 12 U.S.C. §1818(q)

   IT IS FURTHER ORDERED, that FSB shall give notice of such assumption to each of the depositors of the Bank 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 Kansas City Regional Office.

   Pursuant to delegated authority.

   Dated at Washington, D.C., this 9th day of October, 2002.

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Last Updated 6/6/2003

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