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[¶12,139] In the Matter of Providian Bank, Salt Lake City, Utah, Docket No.
03-223q (12-31-03).
Status of bank as insured state nonmember bank terminated.
In the Matter of
PROVIDIAN BANK
SALT LAKE CITY, UTAH
(Insured State Nonmember Bank)
ORDER OF APPROVAL OF TERMINATION OF INSURANCE
FDIC-03-223q
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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 Providian National Bank, Tilton, New
Hampshire ("PNB"), has provided to the FDIC on December 31, 2003,
satisfactory evidence that it has assumed the liabilities for deposits
of Providian Bank, Salt Lake City, Utah ("Providian Bank"), as of
December 31, 2003, as required by section 307.1 of the FDIC's Rules
and Regulations, 12 C.F.R. §307.1, and that PNB has notified
Providian Bank's depositors of its assumption of their deposits,
hereby issues the following ORDER:
ORDER
IT IS HEREBY ORDERED, that the status of Providian Bank, as an
insured state nonmember bank be, and hereby is, terminated on December
31, 2003.
IT IS FURTHER ORDERED, that the separate insurance of all deposits
assumed by PNB from Providian Bank shall terminate at the expiration of
June 30, 2004, or, in the case of any time deposit, the earliest
maturity date after June 30, 2004, 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 31st day of December, 2003
