[¶12,009] In the Matter of Peoples Bank of Northern Kentucky, Inc., Crestview
Hills, Kentucky, Docket No. 02-208q (12-30-02).
Status of bank as an insured state nonmember bank terminated.
In the Matter of
PEOPLES BANK OF NORTHERN KENTUCKY, INC.,
CRESTVIEW HILLS, KENTUCKY (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 The Bank of Kentucky, Inc., Florence,
Kentucky ("Bank of Kentucky"), has provided to the FDIC on
December 16, 2002, satisfactory evidence that it has assumed the
liabilities for deposits of Peoples Bank of Northern Kentucky, Inc.,
Crestview Hills, Kentucky ("Peoples"), as of November 23, 2002,
as required by section 307.1 of the FDIC's Rules and Regulations, 12
C.F.R. §307.1, and that Bank of Kentucky has notified Peoples'
depositors of its assumption of their deposits, hereby issues the
IT IS HEREBY ORDERED, that the status of Peoples, as an insured
state nonmember bank be, and hereby is, terminated as of December 16,
IT IS FURTHER ORDERED, that the separate insurance of all deposits
assumed by Bank of Kentucky from Peoples shall terminate at the
expiration of May 23, 2003, or, in the case of any time deposit, the
earliest maturity date after May 23, 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 30th day of December, 2002.