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FDIC Enforcement Decisions and Orders |
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Board adopts ALJ's recommendation to terminate insurance of institution found to be in an unsafe or unsound condition, and in violation of a cease and desist order requiring it to increase capital. (The effective date of this order is modified by ¶9011, dated 9-30-92.)
[.1] Termination of InsuranceInadequate Capital
[.2] Termination of InsuranceViolation of Cease and Desist Order
In the Matter of
In the Matter of
Under the provisions of 12 U.S.C.
1. The status of Investors Bank & Trust Company, Gretna, Louisiana, as an insured depository institution under the provisions of the Federal Deposit Insurance Act, will terminate as of the close of business on the ____ day of ____, 1992.
Arthur L. Shipe, Administrative Law Judge:
1. Respondent is an "insured depository institution" as that term is defined in section 3(c)(2) of the Federal Deposit Insurance Act, 12 U.S.C. § 1813(c)(2). (Stip. #1)
[.2] The FDIC seeks here to terminate the deposit insurance of Respondent on the alleged grounds that Respondent is in an unsafe and unsound condition, and is operating in violation of a cease and desist order imposed in June of 1990. That order, among other things, required the infusion within 180 days of $1.6 million in capital, and the maintenance of a ratio of adjusted primary
1. Respondent is an unsafe and unsound consideration within the meaning of section 8(a)(2)(ii) of the Federal Deposit Insurance Act (12 U.S.C. § 1818(a)(2)(ii) because its ratio of Tier 1 capital to total assets is less than 2 percent, in violation of 12 C.F.R. § 325.4(c). |
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Last Updated 6/6/2003 | legal@fdic.gov |