Home > Regulation & Examinations > Bank Examinations > FDIC Enforcement Decisions and Orders
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 The Commerce Bank of Oregon,
Portland, Oregon ("The Commerce Bank"), has provided to the FDIC
on October 31, 2005, satisfactory evidence that it has assumed the
liabilities for deposits of First Consumers National Bank, Lake Oswego,
Oregon ("Insured Institution"), as of October 26, 2005, as
required by section 307.1 of the FDIC's Rules and Regulations, 12
C.F.R. §307.1, and that The Commerce Bank 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 on October 31, 2005.
IT IS FURTHER ORDERED, that the separate insurance of all deposits assumed by The Commerce Bank from the Insured Institution shall terminate at the expiration of April 26, 2006, or in the case of any time deposit, the earliest maturity date after April 26, 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 28th day of November, 2005.
|Last Updated email@example.com|