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[¶11,255] In the Matter of ITT Federal Bank Federal Savings Bank, Newport Beach, Calif., Docket No. FDIC-95-127q (12-6-95)
Liability for all of bank's deposits having been assumed by another institution, FDIC terminates bank's insured status. [This order was amended pursuant to an order of the FDIC dated 7-11-96. See ¶16,106.]
In the Matter of
ITT FEDERAL BANK FEDERAL
SAVING BANK
NEWPORT BEACH,CALIFORNIA
(Insured Federally Chartered Savings
Association)
ORDER OF APPROVAL OF
TERMINATION OF INSURANCE
FDIC-95-127q
Pursuant to section 8(q) of the Federal Deposit Insurance Act (the "Act"), 12 U.S.C. § 1818(q), and section 18(i)(3) of the Act, 12 U.S.C. § 1828(i)(3), the Federal Deposit Insurance Corporation ("FDIC"), having found that First Nationwide Bank, FSB, Dallas, Texas ("FNB"), has provided to the FDIC on August 25, 1995, satisfactory evidence that it has assumed the liabilities for
{{9-30-96 p.C-4146}}deposits of ITT Federal Bank Federal Savings Bank, Newport Beach, California ("ITT"), as of August 18, 1995, as required by section 307.1 of the FDIC's Rules and Regulations, 12 C.F.R. § 307.1, and that ITT and FNB have notified the depositors of ITT of FNB's assumption of their deposits by FNB, hereby issues the following ORDER:
ORDER
IT IS HEREBY ORDERED, that the status of ITT as an insured federally chartered savings association be, and hereby is, terminated on February 19, 1996.
IT IS FURTHER ORDERED, that the separate insurance of all deposits assumed by FNB from ITT shall terminate at the expiration of the February 19, 1996, or in the case of any time deposit, the earliest maturity date after February 19, 1996, as provided in section 8(q) of the Act, 12 U.S.C. § 1818(q).
Dated at Washington, D.C., this 6th day of December, 1995.
Pursuant to delegated authority.
