PURCHASE AND ASSUMPTION AGREEMENT WHOLE BANK ALL DEPOSITS AMONG FEDERAL DEPOSIT INSURANCE CORPORATION, RECEIVER OF NEW HORIZONS BANK, EAST ELLIJAY, GEORGIA FEDERAL DEPOSIT INSURANCE CORPORATION and CITIZENS SOUTH BANK DATED AS OF APRIL 15, 2011Purchase and Assumption Agreement • April 19th, 2011 • Citizens South Banking Corp • Savings institution, federally chartered
THIS AGREEMENT, made and entered into as of the 15th day of April, 2011, by and among the FEDERAL DEPOSIT INSURANCE CORPORATION, RECEIVER of NEW HORIZONS BANK, EAST ELLIJAY, GEORGIA (the “Receiver”), CITIZENS SOUTH BANK, organized under the laws of the United States of America, and having its principal place of business in GASTONIA, NORTH CAROLINA (the “Assuming Institution”), 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”).
