- Introduction
- Press Release
- Acquiring Financial Institution
- Priority of Claims
- Dividend Information
- Receivership Termination
|
| I. Introduction |
On September 7, 2001, Sinclair National Bank, Gravette, Arkansas, was
closed by Office of the Comptroller of the Currency. 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 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 Delta Trust & Bank, Parkdale, Arkansas and were available as usual during regular business hours
at the following Delta Trust & Bank offices:
Gravette Office
113 2nd Street
Gravette, AR 72736
Phone: 479-787-7900
Fax: 479-787-7975
Bella Vista Office
1790 Forest Hills Blvd.
Bella Vista, AR. 72715
Phone: 479-876-6000
Fax: 479-876-6900 |
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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
|
Dividend
Information on Failed Financial Institutions |
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|
VI. Receivership Termination |
The FDIC, as Receiver for Sinclair National Bank 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 3, 2003.
The Receiver has made all dividend distributions required by law.
Effective November 1, 2004, 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 |
