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High Desert Bank is seeking regulatory approval to sell substantially all of its banking assets and transfer substantially all of its deposit liabilities to Mid Oregon FCU, according to a regulatory filing recently obtained by S&P Global Market Intelligence.
The proposed transaction requires the approval of the Federal Deposit Insurance Corp. and the National Credit Union Administration.
At the same time, High Desert Bank announced the filing of voluntary liquidation with the Office of the Comptroller of the Currency to liquidate the bank's assets, discharge its remaining liabilities, terminate its FDIC...