OCC appointed FDIC as receiver based on the following grounds: (1) the bank had
experienced substantial dissipation of assets or earnings due to any unsafe or unsound
practice; (2) the bank was in an unsafe or unsound condition to transact business;
(3) the bank’s unsafe or unsound practices or conditions are likely to cause insolvency
or substantial dissipation of assets or earnings; (4) the bank's unsafe or unsound
practices or conditions were likely to weaken the bank’s condition; (5) the bank
incurred or is likely to incur losses that will deplete all or substantially all of its capital,
and there is no reasonable prospect for the bank to become adequately capitalized
without Federal assistance; (6) the bank is undercapitalized, and has no reasonable
prospect of becoming adequately capitalized; (7) the bank is undercapitalized, and has
failed to submit a capital restoration plan acceptable to the OCC within the time
prescribed; and (8) the bank is critically undercapitalized.