[¶16,106] Docket No. FDIC-95-127q (7-11-96)
In the Matter of
ITT FEDERAL BANK FEDERAL
NEWPORT BEACH, CALIFORNIA
(Insured Federally Chartered Savings Association)
AMENDED ORDER OF APPROVAL
OF TERMINATION OF INSURANCE
WHEREAS, 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 ITT Federal Bank Federal Savings Bank, Newport Beach, California ("ITT"), has provided to the FDIC on August 28, 1995, satisfactory evidence that First Nationwide Bank, FSB, Dallas, Texas ("FNB"), assumed the liabilities for deposits of ITT, as of August 18, 1995, as required by section 307.1 of the FDIC's Rules and Regulations, 12 C.F.R. § 307.1, and that ITT has notified the depositors of its assumption of their deposits by FNB; and
WHEREAS, a final Order of Approval of Termination of Insurance ("Order") was issued by the FDIC on December 6, 1995; and
WHEREAS, the Order stated that "August 25, 1995" as the date that the evidence was received by the FDIC regarding the assumption of the deposit liabilities of ITT by FNB and "February 19, 1996" as the date the insured status of ITT was terminated, and it should have stated August 28, 1995, as the date that the evidence was received as well as the date that the insured status of ITT was terminated, and
WHEREAS, the Order stated that "Feb-
ruary 19, 1996" was the date for termination of separate insurance of all deposits, and it should have stated February 20, 1996.
THEREFORE, the FDIC hereby issues the following AMENDED ORDER:
IT IS HEREBY ORDERED, that the status of ITT as an insured federally chartered savings association be, and hereby is, terminated on August 28, 1995.
IT IS FURTHER ORDERED, that the separate insurance of all deposits assumed by FNB from ITT shall terminate at the expiration of February 20, 1996, or in the case of any time deposit, the earliest maturity date after February 20, 1996, 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 11th day of July 1996.