[Federal Register Volume 75, Number 147 (Monday, August 2, 2010)]
[Notices]
[Page 45114]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-18819]


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FEDERAL DEPOSIT INSURANCE CORPORATION


Determination of Insufficient Assets To Satisfy Claims Against 
Financial Institution in Receivership

AGENCY: Federal Deposit Insurance Corporation (FDIC).

ACTION: Notice.

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SUMMARY: The FDIC has determined that insufficient assets exist in the 
receivership of PFF Bank & Trust, Pomona, California, to make any 
distribution to general unsecured claims, and therefore such claims 
will recover nothing and have no value.

DATES: The FDIC made its determination on July 26, 2010.

FOR FURTHER INFORMATION CONTACT: If you have questions regarding this 
notice, you may contact an FDIC Claims Agent at (972) 761-8677. Written 
correspondence may also be mailed to FDIC as Receiver of PFF Bank & 
Trust, Attention: Claims Agent, 1601 Bryan Street, Dallas, Texas 75201.

SUPPLEMENTARY INFORMATION: On November 21, 2008, PFF Bank & Trust, 
Pomona, California, (FIN  10024) was closed by the Office of 
Thrift Supervision and the Federal Deposit Insurance Corporation 
(``FDIC'') was appointed as its Receiver. In complying with its 
statutory duty to resolve the institution in the method that is least 
costly to the deposit insurance fund, see 12 U.S.C. 1823(c)(4), the 
FDIC facilitated a transaction with U.S. Bank, National Association, 
Minneapolis, Minnesota, to acquire the deposits and most of the assets 
of the failed institution. Section 11(d)(11)(A) of the Federal Deposit 
Insurance Act, 12 U.S.C. 1821(d)(11)(A), sets forth the order of 
priority for distribution of amounts realized from the liquidation or 
other resolution of an insured depository institution to pay claims. 
Under the statutory order of priority, administrative expenses and 
deposit liabilities must be paid in full before any distribution may be 
made to general unsecured creditors or any lower priority claims. The 
FDIC has determined that the assets of PFF Bank & Trust are 
insufficient to make any distribution on general unsecured claims and 
therefore such claims, asserted or unasserted, will recover nothing and 
have no value.

    Dated: July 27, 2010.

Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2010-18819 Filed 7-30-10; 8:45 am]
BILLING CODE 6714-01-P