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FDIC Enforcement Decisions and Orders
Status of bank as insured national bank terminated.
In the Matter of
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 Wells Fargo Bank, National Association, San Francisco, California ("Wells Fargo"), has provided to the FDIC on August 16, 2004, satisfactory evidence that it has assumed the liabilities for deposits of Wells Fargo Bank New Mexico, National Association, Albuquerque, New Mexico ("Insured Institution"), as of February 20, 2004, as required by section 307.1 of the FDIC's Rules and Regulations, 12 C.F.R. §307.1, and that Wells Fargo has notified the Insured Institution's depositors of its assumption of their deposits, hereby issues the following ORDER:
IT IS HEREBY ORDERED, that the status of the Insured Institution as an insured national bank be, and hereby is, terminated as of August 16, 2004.
IT IS FURTHER ORDERED, that the separate insurance of all deposits assumed by Wells Fargo from the Insured Institution shall terminate at the expiration of August 20, 2004, or in the case of any time deposit, the earliest maturity date after August 20, 2004, 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 14th day of September, 2004.
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