INSURED DEPOSITS OF THE OAKWOOD DEPOSIT BANK COMPANY
ASSUMED BY THE STATE BANK AND TRUST COMPANY, DEFIANCE

 

The State Bank and Trust Company, Defiance, has assumed the insured deposits of The Oakwood Deposit Bank Company.   

The main office of the former Oakwood Deposit Bank Company at 218 North First Street, Oakwood, and the branch office at 100 South Main Street, Grover Hill, opened at 9 a.m. today with the failed bank’s depositors automatically becoming depositors of The State Bank and Trust Company.  Customers may call the bank at (419) 594-3333.

On Friday, February 1, at the request of the bank’s board of directors, the Ohio Superintendent of Financial Institutions accepted possession of The Oakwood Deposit Bank Company and appointed the Federal Deposit Insurance Corporation (FDIC) as receiver for the bank.

The State Bank and Trust Company, Defiance, acquired the insured deposits of the Oakwood Deposit Bank Company from the FDIC on February 2, 2002. 

Additional information is available on the FDIC’s web page at www.fdic.gov

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The Ohio Department of Commerce's Division of Financial Institutions regulates Ohio's state-chartered financial institutions.  In addition to financial institutions, Commerce also regulates securities, industrial compliance, fire codes, unclaimed funds, liquor, worker safety and real estate, among other industries.  The department's internet address is www.com.state.oh.us