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Failed Bank Information
Bank Closing Information for the Farmers Bank & Trust of Cheneyville, Cheneyville, Louisiana
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- Introduction
- Press Release
- Acquiring Financial Institution
- Priority of Claims
- Dividend Information
- Receivership
Termination
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I. Introduction |
On December 17, 2002, The Farmers Bank & Trust of Cheneyville,
Cheneyville, Louisiana, was closed by the State of Louisiana, Office of
Financial Institutions. 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. |
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II. Press
Release |
The FDIC has issued a press
release about the institution’s 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. |
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III. Acquiring
Financial Institution |
All insured deposit accounts were transferred to Sabine State Bank &
Trust, Many, Louisiana, 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 |
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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:
Depositors
General Unsecured Creditors
Subordinated Debt
Stockholders |
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V. Dividend Information
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Dividend
Information on Failed Financial Institutions |
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VI. Receivership Termination |
The FDIC, as Receiver for The Farmers Bank & Trust of Cheneyville,
Cheneyville, Louisiana, has taken all actions necessary to terminate the
receivership estate.
The Receiver published legal notice of intent to terminate 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.
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General Disclaimer |
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