Each depositor insured to at least $250,000 per insured bank



Home > Industry Analysis > Failed Banks > Failed Bank List > Failed Bank Information




Failed Bank Information
Bank Closing Information for the Farmers Bank & Trust of Cheneyville, Cheneyville, LA
  1. Introduction
  2. Press Release
  3. Acquiring Financial Institution
  4. Priority of Claims
  5. Dividend Information
  6. Receivership Termination
I.  Introduction
On December 17, 2002, The Farmers Bank & Trust of Cheneyville, Cheneyville, LA, was closed by the State of Louisiana, Office of Financial Institutions, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. As Receiver, the FDIC is charged with winding up the business affairs of the failed financial institution. This includes the disposition of assets and liabilities of the failed financial institution and payment of dividends to approved creditors in order of priority.

The FDIC, as Receiver, has taken all necessary actions to conclude the affairs of the failed financial institution, made all dividend distributions as required by law and the receivership estate is deemed terminated.
Back to top
II.  Press Release
The FDIC has issued a press release about the institutionís closure. If you represent a media outlet and would like information about the closure, please contact the FDIC Public Affairs Office at (202) 898-6993.
Back to top
III.  Acquiring Financial Institution
All insured deposit accounts were transferred to Sabine State Bank & Trust, Many, LA, and were available as usual during regular business hours at the following Sabine State Bank & Trust office:

603 Front St.
Cheneyville, LA 71325

Phone: (318) 279-2141
Back to top
IV.  Priority of Claims
The dividend process is complete. In accordance with Federal law, allowed claims are paid, after administrative expenses, in the following order of priority:
  1. Depositors
  2. General Unsecured Creditors
  3. Subordinated Debt
  4. Stockholders

Back to top
V.  Dividend Information
Dividend History on The Farmers Bank & Trust of Cheneyville

Dividend Information on Failed Financial Institutions
Back to top
VI.  Receivership Termination

The FDIC as Receiver for The Farmers Bank & Trust of Cheneyville has taken all actions necessary to terminate the Receivership Estate.

The Receiver published legal notice of intent to terminate the receivership in the Arkansas Democrat Gazette on November 7, 2003.

The Receiver has made all dividend distributions required by law.

Effective February 1, 2005, the Receivership Estate has been terminated, the Receiver discharged, and the Receivership Estate has ceased to exist as a legal entity.

Back to top
General Disclaimer



Last Updated 10/20/2004 Customer Service