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Decisions on Bank Applications

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Insurance - Life insurance policy on former employee, officer, director
Bank may maintain life insurance policies on bank directors, officers and employees

Disclaimer
The following list shows those activities and investments approved by the FDIC under Section 24 of the Federal Deposit Insurance Act and Part 362 of the FDICís Rules and Regulations, 12 C.F.R. Part 362. The list provides insured state banks and their counsel some initial guidance regarding activities and investments that the FDIC may approve under Section 24. However, the fact that a particular activity or investment has received FDIC approval in the past does not affect the obligation of another institution to seek permission from the FDIC to engage in the same or similar activity. Additionally, the fact that a particular investment or activity has been approved in the past does not restrict the FDIC's review of future requests to engage in similar activities nor our ability to impose prudential standards on the conduct of that activity. Finally, it should be borne in mind that since the time any particular application was approved, key statutory or regulatory changes may have taken place, which might impact how the issues would be treated today.

BARBOUR COUNTY BANK - EUFAULA, AL
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Delegated Authority 4/7/2000 $ 545,000 0.86%
Application to hold as principal, two life insurance policies on the former Chairman of the Board, Director and Officer of the bank. Barbour County Bank


FIRST STATE BANK - IDA GROVE, IA
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Delegated Authority 4/4/2001    
Application to hold as principal, three single-premium life insurance policies on the bank's Senior Vice President. First State Bank




Last Updated 03/24/2011 Legal@fdic.gov