|
Failed Bank Information
Pulaski Savings Bank, Philadelphia, PA, Closing Information
|
- Introduction
- Press Release
- Acquiring Financial Institution
- Priority of Claims
- Dividend Information
- Receivership Termination
|
| I. Introduction |
On November 14, 2003, Pulaski Savings Bank was closed by the
Pennsylvania Department of Banking 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 dividends distributions as
required by law and the receivership estate is deemed terminated. See
“Receivership Terminations” below. |
| Back to top |
| 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. |
| Back to top |
| III. Acquiring
Financial Institution |
All insured deposit accounts were transferred to earthstar Bank,
Southampton, Pennsylvania, and were available as usual during business hours
at the following Earthstar office:
376 Second Street Pike
Southampton, PA 18966
Phone:
215-942-9900
FAX: 215-942-8650
Web address:
http://earthstarbank.com |
| 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:
- Depositors
- General Unsecured Creditors
- Subordinated Debt
- Stockholders
|
| Back to top |
| V. Dividend Information
|
Dividend
Information on Failed Financial Institutions |
| Back to top |
| VI. Receivership
Termination |
|
The FDIC, as Receiver for Pulaski Savings Bank, Philadelphia, PA, has taken
all actions necessary to terminate the Receivership Estate.
The Receiver published a legal notice of intent to terminate the receivership
in the Philadelphia Inquirer on February 15, 2005.
The Receiver has made all dividend distributions required by law.
Effective August 1, 2005, the Receivership Estate has been terminated, the
Receiver was discharged, and the Receivership Estate ceased existence as a
legal entity
General Disclaimer |
