gencbdev, Author at Generations Community Bank

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Not FDIC Insured Generations Community Bank is currently in the process of organization and is not yet insured by the Federal Deposit Insurance Corporation (FDIC). We do not claim to have FDIC insurance at this time. Old National Bancorp (“ONB”) is assisting with the organization of the Bank and expects to hold a non-controlling investment in the Bank upon completion of the offering of the Shares, and the Bank will be independent of ONB when it commences business. It is possible, however, that the FDIC may deem the Bank to be an “affiliate” of Old National Bank for purposes of Regulation W, which restricts transactions between a bank and its affiliates, but management does not anticipate that these restrictions, if they were to apply to the Bank, would have a material effect on the Bank’s business.

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