{{7-31-98 p.C-4526}}
[11,493] In the Matter of Pana Federal Savings and Loan Association, Pana, Illinois, Docket No. 98-14q (4-20-98)
Liability for all of bank's deposits having been assumed by another institution, FDIC terminates bank's insured status.
[.1] Insured Status—Voluntary Termination of
In the Matter of
PANA FEDERAL SAVINGS AND
LOAN ASSOCIATION
PANA, ILLINOIS
(Insured Federal Savings and Loan
Association)
ORDER OF APPROVAL OF
TERMINATION OF INSURANCE
FDIC-98-14q
Pursuant to section 8(q) of the Federal Deposit Insurance Act ("Act"), 12 U.S.C. § 1818(q), and section 18(i)(3) of the Act, 12
{{7-31-98 p.C-4527}}U.S.C. § 1828(i)(3), the Federal Deposit Insurance Corporation ("FDIC"), having found that Peoples Bank & Trust, Pana, Illinois ("Assuming Institution"), provided to the FDIC on February 23, 1998, satisfactory evidence that it assumed the liabilities for deposits of Pana Federal Savings and Loan Association, Pana, Illinois ("Pana S&L"), as of February 19, 1998, as required by section 307.1 of the FDIC's Rules and Regulations, 12 C.F.R. § 307.1, and that the Assuming Institution notified Pana S&L depositors of its assumption of their deposits, hereby issues the following ORDER.
ORDER
[.1] IT IS HEREBY ORDERED, that the status of Pana S&L as an insured federal savings and loan association, be and hereby is, terminated as of February 23, 1998.
IT IS FURTHER ORDERED, that the separate insurance of all deposits assumed by the Assuming Institution from Pana S&L shall terminate at the expiration of August 20, 1998, or in the case of any time deposit, the earliest maturity date after August 20, 1998, as provided in section 8(q) of the Act, 12 U.S.C. § 1818(q).
Pursuant to delegated authority.
Dated at Washington, D.C., this 20th day of April, 1998.
