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FDIC Enforcement Decisions and Orders
Bank's status 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 Zions First National Bank, Salt Lake City, Utah, ("Zions") has provided to the FDIC on July 29, 2005, satisfactory evidence that it has assumed the liabilities for deposits of American Investment Bank, N.A., Salt Lake City, Utah ("Insured Institution") as of July 29, 2005, as required by section 307.1 of the FDIC's Rules and Regulations, 12 C.F.R. §307.1, and that Zions has notified Insured Institution's depositors of its assumption of their deposits, hereby issues the following ORDER:
IT IS HEREBY ORDERED, that the status of Insured Institution as an insured national bank be, and hereby is, terminated as of July 29, 2005.
IT IS FURTHER ORDERED, that the separate insurance of all deposits assumed by Zions from Insured Institution shall terminate at the expiration of January 30, 2006, or, in the case of any time deposit, the earliest maturity date after January 30, 2006, 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 29th day of July, 2005.
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