Three bank receiverships were terminated May 1 by the Federal Deposit Insurance Corp. (FDIC), according to filings with the Federal Register, and a fourth is set to be terminated in the future.
The receiverships terminated May 1 included Butte Community Bank, Chico, Calif., Pacific State Bank, Stockton, Calif., and Farmers’ & Traders’ State Bank, Shabbona, Ill. Both Butte Community Bank and Pacific State Bank were closed Aug. 20, 2010. Farmers’ & Traders’ State Bank was closed June 8, 2012.
The FDIC also plans to terminate its receivership of Charter Bank, Santa Fe, N.M., which has been in receivership since Jan. 22, 2010. “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 said in its notice. It added that the receivership will end no sooner than 30 days from the date of the notice; anyone wishing to comment can do so within that 30-day period.