The federal bank deposit insurer terminated its receiverships of five banks Aug. 1, the agency says in a notice slated for publication in Tuesday’s Federal Register, stating that as receiver, it “has fulfilled its obligations and made all dividend distributions required by law.”
The five receiverships by the Federal Deposit Insurance Corp. (FDIC) were for Alliance Bank (Culver City, Calif.), BC National Banks (Butler, Mo.), Sonoma Valley Bank (Sonoma, Calif.), Excel Bank (Sedalia, Mo.), and 1st Commerce Bank (North Las Vegas, Nev.). The oldest receivership in this group was for Alliance Bank, placed in receivership in February 2009.
The agency, in a separate notice, says it also plans to terminate the receivership of Decatur First Bank (Decatur, Ga.). FDIC was appointed receiver Oct. 21, 2011. “The liquidation of the assets for the receivership has been completed,” the notice states. “To the extent permitted by available funds and in accordance with law, the Receiver will be making a final dividend payment to proven creditors.”
The agency says that anyone wishing to comment on termination of this receivership should do so in writing within 30 days of the date of the notice to: Federal Deposit Insurance Corporation, Division of Resolutions and Receiverships, Attention: Receivership Oversight Department 34.6, 1601 Bryan Street, Dallas, TX 75201.