[¶12,006] In the Matter of The First National Bank of Sumner, Olney, Illinois,
Docket No. 02-191q (12-26-02).
Status of bank as an insured national bank terminated.
In the Matter of
THE FIRST NATIONAL BANK OF SUMNER OLNEY, ILLINOIS (Insured National Bank)
ORDER OF APPROVAL OF TERMINATION OF INSURANCE
Pursuant to section 8(q) of the Federal Deposit Insurance Act
("Act"), 12 U.S.C. §1818(q), and section 18(i)(e) of the Act,
12 U.S.C. §1828(i)(3), the Federal Deposit Insurance Corporation
("FDIC"), having found that The Peoples State Bank of Newton,
Illinois, Newton, Illinois ("Newton"), has provided to the FDIC
on November 12, 2002, satisfactory evidence that it has assumed
the liabilities for deposits of The First National Bank of Sumner, Olney,
Illinois ("Sumner"), as of November 8, 2002, as required by
section 307.1 and that Newton has notified Sumner's depositors of
Newton's assumption of their deposits, hereby issues the following
IT IS HEREBY ORDERED, that the status of Sumner as an insured
national bank be, and hereby is, terminated as of November 12, 2002.
IT IS FURTHER ORDERED, that the separate insurance of all deposits
assumed by Newton from Sumner shall terminate at the expiration of May
8, 2003, 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 26th day of December, 2002.