Home > Regulation & Examinations > Bank Examinations > FDIC Enforcement Decisions and Orders
FDIC Enforcement Decisions and Orders
Status of bank as state nonmember 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 Havana National Bank, Havana, Illinois ("The Havana National Bank"), has provided to the FDIC on November 30, 2005, satisfactory evidence that it has assumed the liabilities for deposits of San Jose Tri-County Bank, San Jose, Illinois ("San Jose Tri-County Bank"), as of November 30, 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 San Jose Tri-County Bank as an insured state nonmember bank is terminated on November 30, 2005.
IT IS FURTHER ORDERED, that the separate insurance of all deposits assumed by The Havana National Bank from San Jose Tri-County Bank shall terminate at the expiration of May 31, 2006, or in the case of any time deposit, the earliest maturity date after May 31, 2006, as provided in section 8(q) of the Act, 12 U.S.C. §1818(q).
IT IS FURTHER ORDERED, that The Havana National Bank shall give notice of such assumption to each of the depositors of San Jose Tri-County 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 December, 2005.
|Last Updated email@example.com|