Form 8806 - Netbank, Inc
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Name and address of the reporting corporation: |
Netbank, Inc |
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Date of transaction: |
11/1/07 |
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Description of the transaction
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The Board of Directors of the Federal Deposit Insurance Corporation (FDIC) approved the assumption of the insured deposits of Netbank by ING Bank, FSB, Wilmington, DE |
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Did the reporting corporation’s shareholders receive any stock or other property in exchange for their stock in the reporting corporation, for which the reporting corporation has reasonably determined that the shareholders are required to recognize gain (if any).from the exchange of such stock? |
Yes |
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Fair market value of the stock or other property received |
$1,057,000 |
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Description of the stock or other property received |
Common stock – 250,000 shares |
