[¶12,008] In the Matter of LBS Bank-New York, New York City, New York, Docket No.
Status of bank as an insured state nonmember bank terminated.
In the Matter of
LBS BANK-NEW YORK NEW YORK CITY, NEW YORK (Insured State Nonmember Bank)
ORDER OF TERMINATION OF INSURANCE
Pursuant to section 8(p) of the Federal Deposit Insurance Act, 12
U.S.C. §1818(p), the Federal Deposit Insurance Corporation
("FDIC"), hereby finds that LBS Bank-New York, New York City, New
York ("LBS"), is not engaged in the business of
deposits, other than trust funds, and issues the following ORDER:
IT IS HEREBY ORDERED, that the status of LBS as an insured
state nonmember bank, be and hereby is, terminated at the expiration of
June 30, 2003, which is the last day of the first full semiannual
assessment period following the date of issuance of this ORDER.
IT IS FURTHER ORDERED, that LBS notify its depositors, if any, of the
termination of its insured status no later than May 30, 2003, in the
manner required by section 308.124(c) of the FDIC's Rules of Practice
and Procedure, 12 C.F.R. §308.124(c).
Pursuant to delegated authority.
Dated at Washington, D.C., this 26th day of December, 2002.