{{6-30-03 p.C-5734}}
[¶12,033] In the Matter of Household Bank, FSB, Wood Dale Illinois, Docket No.
03-028q (4-3-03).
FDIC terminates insured status of bank.
In the Matter of
HOUSEHOLD BANK FSB,
WOOD DALE, ILLINOIS
(Insured Federal Savings Association)
ORDER OF APPROVAL OF TERMINATION OF INSURANCE
FDIC-03-028q
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 Lehman Brothers Bank, FSB,
Wilmington, Delaware ("Lehman"), has provided to the FDIC on
December 27, 2002, satisfactory evidence that it has assumed a portion
of the liabilities for deposits of Household Bank, FSB, Wood Dale,
Illinois ("Household Bank"), as of December 27, 2002, and that
Panhandle State Bank, Sandpoint, Idaho ("Panhandle"), has
provided to the FDIC on January 30, 2003, satisfactory evidence that it
has assumed liability for the remaining deposits of Household Bank, as
of January 30, 2003, as required by section 307.1 of the FDIC's Rules
and Regulations, 12 C.F.R. §307.1, and that Panhandle and Lehman
have notified Household Bank's respective depositors of the assumption
of their deposits, hereby issues the following ORDER:
ORDER
IT IS HEREBY ORDERED that the status of Household Bank as an
insured federal savings association be, and hereby is, terminated as of
January 30, 2003.
IT IS FURTHER ORDERED, that the separate insurance of all deposits
assumed by Lehman shall terminate at the expiration of June 27, 2003,
or, in the case of any time deposit, the earliest maturity date after
June 27, 2003, as provided in section 8(q) of the Act, 12 U.S.C.
§1818(q).
IT IS FURTHER ORDERED, that the separate insurance of all deposits
assumed by Panhandle shall terminate at the expiration of July 30,
2003, or, in the case of any time deposit, the earliest maturity date
after July 30, 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 3rd day of April, 2003.
