PURCHASE AND ASSUMPTION AGREEMENT WHOLE BANK ALL DEPOSITS AMONG FEDERAL DEPOSIT INSURANCE CORPORATION, RECEIVER OF BANK OF ELMWOOD FEDERAL DEPOSIT INSURANCE CORPORATION and TRI CITY NATIONAL BANK OAK CREEK, WISCONSIN DATED AS OF OCTOBER 23, 2009Purchase and Assumption Agreement • October 28th, 2009 • Tri City Bankshares Corp • State commercial banks
THIS AGREEMENT, made and entered into as of the 23rd day of OCTOBER, 2009, by and among the FEDERAL DEPOSIT INSURANCE CORPORATION, RECEIVER of BANK OF ELMWOOD, RACINE, WISCONSIN (the “Receiver”), TRI CITY NATIONAL BANK, organized under the laws of the United States of America, and having its principal place of business in OAK CREEK, WISCONSIN (the “Assuming Bank”), and the FEDERAL DEPOSIT INSURANCE CORPORATION, organized under the laws of the United States of America and having its principal office in Washington, D.C., acting in its corporate capacity (the “Corporation”).
