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FDIC Enforcement Decisions and Orders
Status of bank as insured national bank terminated.
In the Matter of
Pursuant to section 3(p) of the Federal Deposit Insurance Act, 12 U.S.C. §1818(p), the Federal Deposit Insurance Corporation ("FDIC"), hereby finds that Axsys National Bank, Sioux Falls, South Dakota ("Insured Institution"), is not engaged in the business of receiving deposits, other than trust funds, and 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 at the expiration of December 31, 2005, 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 the Insured Institution notify its depositors, if any, of the termination of its insured status no later than November 30, 2005, 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 22nd day of February, 2005.
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