All of that is correct!

However, there is a reason that this happened, and it has nothing to do with intentionally misleading anyone.

They are buying 3 banking entities, but the two that were listed in the release were not the FDIC insured bank. The reason this happened is because all 3 banking entities are being bought from the same person, and the paperwork they sent over to Arise was not accurate in regard to the FDIC being one of those two, from what I understand.