[¶12,490] In the Matter of The First National Bank of Fremont, Fremont, Indiana,
Docket No. 05-167q (11-1-05).
Status of bank as insured national bank terminated.
In the Matter of
THE FIRST NATIONAL BANK OF FREMONT FREMONT, INDIANA (Insured National 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 Farmers State Bank, Lagrange, Indiana
("Farmers State Bank"), has provided to the FDIC on November 1,
2005, satisfactory evidence that it has assumed the liabilities for
deposits of The First National Bank of Fremont, Fremont, Indiana
("First National Bank"), as of November 1, 2005, as required by
section 307.1 of the FDIC's Rules and Regulations, 12 C.F.R.
§307.1, hereby issues the following ORDER:
IT IS HEREBY ORDERED, that the status of First National Bank, as
an insured national bank, hereby is terminated on November 1, 2005.
IT IS FURTHER ORDERED, that the separate insurance of all deposits
assumed by Farmers State Bank from First National Bank shall terminate
at the expiration of May 1, 2006, or, in the case of any time deposit,
the earliest maturity date after May 1, 2006, as provided in section
8(q) of the Act, 12 U.S.C. §1818(q).
IT IS FURTHER ORDERED, that Farmers State Bank shall give notice of
such assumption to each of the depositors of First National Bank within
thirty days after such assumption has taken effect, if it has not
already done so, in a manner acceptable to the Regional Director of the
FDIC's Chicago Regional Office.
Pursuant to delegated authority.
Dated at Washington, D.C., this 1st day of November, 2005.