Notice to All Interested Parties of the Termination of the Receivership of 10159, Valley Capital Bank, Mesa, Arizona, 36306 [2016-13234]

Download as PDF sradovich on DSK3TPTVN1PROD with NOTICES 36306 Federal Register / Vol. 81, No. 108 / Monday, June 6, 2016 / Notices General Description: Among other things, the Federal Deposit Insurance Act (FDIA) sets forth the duties and responsibilities of the FDIC in providing for and maintaining a system of deposit insurance for the nation’s insured depository institutions and in resolving troubled insured depository institutions in a manner that presents the least cost to the Deposit Insurance Fund. Section 6 of the FDIA sets forth a number of factors to be considered before an institution is permitted by the FDIC to obtain federal deposit insurance. Among these factors are the financial history of the institution; the adequacy of the institution’s capital structure; the further earnings prospects; the convenience and needs of the community; the institution’s corporate powers, and, not insignificantly, the risk presented to the Deposit Insurance Fund. (Similarly, provisions of the Change in Bank Control Act, found in section 7 of the FDIA, permit the FDIC— or another appropriate federal banking agency—to refuse to permit a proposed change in bank control if the proposed transaction would result in an adverse effect on the Deposit Insurance Fund.) Section 8 of the FDIA authorizes the FDIC to assess the safety and soundness of the practices, operations, and conditions of insured depository institutions, and permits the FDIC to terminate deposit insurance or to take other appropriate actions if the institution operates in an unsafe and unsound manner. Finally, section 13 of the FDIA authorizes the FDIC to resolve troubled insured depository institutions and to dispose of the assets of such institutions using the method that is least costly to the Deposit Insurance Fund, maximizes the return from the sale of such assets, and minimizes any loss to the Deposit Insurance Fund. The FDIC’s policy statement on Qualifications for Failed Bank Acquisitions provides guidance to private capital investors interested in acquiring or investing in failed insured depository institutions regarding the terms and conditions for such investments or acquisitions. The information collected pursuant to the policy statement allows the FDIC to evaluate, among other things, whether such investors (and their related interests) could negatively impact the Deposit Insurance Fund, increase resolution costs, or operate in a manner that conflict with statutory safety and soundness principles and compliance requirements. necessary for the proper performance of the FDIC’s functions, including whether the information has practical utility; (b) the accuracy of the estimates of the burden of the information collection, including the validity of the methodology and assumptions used; (c) ways to enhance the quality, utility, and clarity of the information to be collected; and (d) ways to minimize the burden of the information collection on respondents, including through the use of automated collection techniques or other forms of information technology. All comments will become a matter of public record. Dated at Washington, DC, this 1st day of June, 2016. Federal Deposit Insurance Corporation. Robert E. Feldman, Executive Secretary. [FR Doc. 2016–13235 Filed 6–3–16; 8:45 am] BILLING CODE 6714–01–P FEDERAL DEPOSIT INSURANCE CORPORATION Notice of Termination; 10287, Bank of Ellijay, Ellijay, Georgia The Federal Deposit Insurance Corporation (FDIC), as Receiver for 10287, Bank of Ellijay, Ellijay, Georgia (Receiver) has been authorized to take all actions necessary to terminate the receivership estate of Bank of Ellijay (Receivership Estate); The Receiver has made all dividend distributions required by law. The Receiver has further irrevocably authorized and appointed FDICCorporate as its attorney-in-fact to execute and file any and all documents that may be required to be executed by the Receiver which FDIC-Corporate, in its sole discretion, deems necessary; including but not limited to releases, discharges, satisfactions, endorsements, assignments and deeds. Effective June 01, 2016 the Receivership Estate has been terminated, the Receiver discharged, and the Receivership Estate has ceased to exist as a legal entity. Date: June 1, 2016. Federal Deposit Insurance Corporation. Robert E. Feldman, Executive Secretary. [FR Doc. 2016–13242 Filed 6–3–16; 8:45 am] BILLING CODE 6714–01–P Request for Comment Comments are invited on: (a) Whether the collection of information is VerDate Sep<11>2014 16:36 Jun 03, 2016 Jkt 238001 PO 00000 Frm 00053 Fmt 4703 Sfmt 4703 FEDERAL DEPOSIT INSURANCE CORPORATION Notice to All Interested Parties of the Termination of the Receivership of 10159, Valley Capital Bank, Mesa, Arizona Notice is hereby given that the Federal Deposit Insurance Corporation (‘‘FDIC’’) as Receiver for Valley Capital Bank, Mesa, Arizona (‘‘the Receiver’’) intends to terminate its receivership for said institution. The FDIC was appointed receiver of Valley Capital Bank on December 11, 2009. The liquidation of the receivership assets has been completed. To the extent permitted by available funds and in accordance with law, the Receiver will be making a final dividend payment to proven creditors. Based upon the foregoing, the Receiver has determined that the continued existence of the receivership will serve no useful purpose. Consequently, notice is given that the receivership shall be terminated, to be effective no sooner than thirty days after the date of this Notice. If any person wishes to comment concerning the termination of the receivership, such comment must be made in writing and sent within thirty days of the date of this Notice to: Federal Deposit Insurance Corporation, Division of Resolutions and Receiverships, Attention: Receivership Oversight Department 34.6, 1601 Bryan Street, Dallas, TX 75201. No comments concerning the termination of this receivership will be considered which are not sent within this time frame. Dated: June 1, 2016. Federal Deposit Insurance Corporation. Robert E. Feldman, Executive Secretary. [FR Doc. 2016–13234 Filed 6–3–16; 8:45 am] BILLING CODE 6714–01–P FEDERAL RESERVE SYSTEM Formations of, Acquisitions by, and Mergers of Savings and Loan Holding Companies The companies listed in this notice have applied to the Board for approval, pursuant to the Home Owners’ Loan Act (12 U.S.C. 1461 et seq.) (HOLA), Regulation LL (12 CFR part 238), and Regulation MM (12 CFR part 239), and all other applicable statutes and regulations to become a savings and loan holding company and/or to acquire the assets or the ownership of, control of, or the power to vote shares of a savings association and nonbanking E:\FR\FM\06JNN1.SGM 06JNN1

Agencies

[Federal Register Volume 81, Number 108 (Monday, June 6, 2016)]
[Notices]
[Page 36306]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-13234]


-----------------------------------------------------------------------

FEDERAL DEPOSIT INSURANCE CORPORATION


Notice to All Interested Parties of the Termination of the 
Receivership of 10159, Valley Capital Bank, Mesa, Arizona

    Notice is hereby given that the Federal Deposit Insurance 
Corporation (``FDIC'') as Receiver for Valley Capital Bank, Mesa, 
Arizona (``the Receiver'') intends to terminate its receivership for 
said institution. The FDIC was appointed receiver of Valley Capital 
Bank on December 11, 2009. The liquidation of the receivership assets 
has been completed. To the extent permitted by available funds and in 
accordance with law, the Receiver will be making a final dividend 
payment to proven creditors.
    Based upon the foregoing, the Receiver has determined that the 
continued existence of the receivership will serve no useful purpose. 
Consequently, notice is given that the receivership shall be 
terminated, to be effective no sooner than thirty days after the date 
of this Notice. If any person wishes to comment concerning the 
termination of the receivership, such comment must be made in writing 
and sent within thirty days of the date of this Notice to: Federal 
Deposit Insurance Corporation, Division of Resolutions and 
Receiverships, Attention: Receivership Oversight Department 34.6, 1601 
Bryan Street, Dallas, TX 75201.
    No comments concerning the termination of this receivership will be 
considered which are not sent within this time frame.

    Dated: June 1, 2016.

Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2016-13234 Filed 6-3-16; 8:45 am]
 BILLING CODE 6714-01-P
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.