Full text of Federal Reserve Bank of New York Circulars : 9921. Purchase of Assets and Transfer of Deposits of Peoples National Bank of Rockland County

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FEDERAL RESERVE BANK
OF 6SSEW YORK

Circular No. 9 9 2 1
September 16, 1985

Purchase of Assets and Transfer of Deposits of
Peoples National Bank of Rockland County

To A ll D epository Institutions, and Others Concerned,
in the Second Federal Reserve District:

We have been advised that, on September 13, 1985, the Comptroller of the
Currency declared insolvent Peoples National Bank of Rockland County (Routing No.
0219-0949-4), and that the Federal Deposit Insurance Corporation has been appointed
receiver.
We have been further advised that the Federal Deposit Insurance Corporation
has entered into an agreement with The First National Bank of Highland under
which The First National Bank of Highland will purchase certain assets and assume
certain liabilities, including insured deposit liabilities, of Peoples National Bank of
Rockland County. The First National Bank of Highland is prepared to receive items
payable by, at, or through the former offices of Peoples National Bank of Rockland
County.
If you have any questions regarding this matter, please call John F. Sobala,
Assistant Vice President (Tel. No. 212-791-5997).




E. G e r a l d C o r r i g a n ,
President.