FDIC-00-031q
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 Connecticut Bank of Commerce, Stamford, Connecticut ("CBC"), has pro-
{{7-31-00 p.C-4942}}
vided to the FDIC on March 31, 2000, satisfactory evidence that it has assumed the deposit liabilities of MTB Bank, New York City, New York ("MTB") as of March 31, 2000, as required by section 307.1 of the FDIC's Rules and Regulations, 12 C.F.R. § 307.1, hereby issues the following ORDER:
ORDER
IT IS HEREBY ORDERED, that the status of MTB as an insured state nonmember bank be, and hereby is terminated as of March 31, 2000.
IT IS FURTHER ORDERED, that the separate insurance of all deposits assumed by CBC from MTB shall terminate at the expiration of September 30, 2000, or, in the case of any time deposit, the earliest maturity date after September 30, 2000, as provided in section 8(q) of the Act, 12 U.S.C. § 1818(q).
IT IS FURTHER ORDERED, that CBC shall give notice of such assumption to each of the depositors of MTB within thirty days after such assumption has taken effect, if it has not already done so, in a manner acceptable to the Regional Director of the FDIC's New York Regional Office.
Pursuant to delegated authority.
Dated at Washington, D.C., this 18th day of May, 2000.
