Home > News & Events > Press Releases




Press Releases

FDIC MAKES PUBLIC FEBRUARY ENFORCEMENT ACTIONS;
NO ADMINISTRATIVE HEARINGS SCHEDULED

FOR IMMEDIATE RELEASE
PR-28-2003 (3-26-2003)
Media Contact:
Frank Gresock (202) 898-6634

The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in February. No administrative hearings are scheduled for April.

The FDIC processed a total of 12 orders in February. These included two cease-and-desist orders, two removal-and-prohibition orders, five civil money penalty orders, two terminations of cease-and-desist orders, and one termination of a suspension-and-prohibition order.

Copies of the orders referred to above can be obtained from or inspected at the FDIC's Public Information Center, 801 17th Street, N.W., Room 100, Washington, D.C. (telephone (703) 562-2200 or 877-275-3342). The orders will also be made available online within a week of the issuance of this news release. To view the orders online, visit the FDIC's Web page at http://www.fdic.gov/bank/individual/enforcement/index.html. A list of orders made public today follows.

****

FINAL ORDERS ISSUED PURSUANT TO SECTION 8(b), 12 U.S.C. § 1818(b)
(Cease-and-Desist)

United-American Savings Bank, Pittsburgh, PA; FDIC-03-001b; Issued 2/6/03

Bank of Friendship, Friendship, TN; FDIC-03-030b; Issued 2/6/03

FINAL ORDERS ISSUED PURSUANT TO SECTION 8(e), 12 U.S.C. § 1818(e)
(Removal and Prohibition Order)

The Arkansas Valley State Bank, Broken Arrow, OK; FDIC-02-052e; Order of Prohibition From Further Participation against James Douglas Kimbrough; Issued 2/19/03

Banco Bilbao Vizcaya Argentaria Puerto Rico, San Juan, PR; FDIC-00-014e; Order of Prohibition From Further Participation against Nelson Rodriguez Lopez; Issued 2/14/03

FINAL ORDERS ISSUED PURSUANT TO SECTION 8(i), 12 U.S.C. § 1818(i)
(Civil Money Penalties)

Farmers Bank, Antonia, MO; FDIC-02-187k; Order to Pay Civil Money Penalty in the amount of $2,500; Issued 2/6/03

Yadkin Valley Bank and Trust, Elkin, NC; FDIC-02-172k; Order to Pay Civil Money Penalty in the amount of $4,000; Issued 2/5/03

The Arkansas Valley State Bank, Broken Arrow, OK; FDIC-02-141k; Order to Pay Civil Money Penalty against James Douglas Kimbrough in the amount of $25,000; Issued 2/19/03

Community Banks, Millersburg, PA; FDIC-02-193k; Order to Pay Civil Money Penalty in the amount of $8,000; Issued 2/20/03

Banco Bilbao Vizcaya Argentaria PR, San Juan, PR; FDIC-02-200k; Order to Pay Civil Money Penalty against Nelson Rodriguez Lopez in the amount of $5,000; Issued 2/14/03

TERMINATIONS OF CEASE-AND-DESIST ORDERS

State Bank of Seaton, Seaton, IL; FDIC-01-009b; Issued 2/11/03

Banco Financiero de Puerto Rico, Ponce, PR; FDIC-02-047b; Issued 2/6/03

TERMINATION OF SUSPENSION AND PROHIBITION ORDER
PURSUANT TO SECTION 8(g), 12 U.S.C. § 1818(g)

Golden City Commercial Bank, New York, NY; FDIC-99-134g; against Martha Hai Ning Chu; Issued 2/28/03

###

Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 9,354 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars - insured financial institutions fund its operations.

FDIC press releases and other information are available on the Internet at www.fdic.gov and may also be obtained through the FDIC's Public Information Center (877-275-3342 or (703) 562-2200).

Last Updated 03/26/2003 communications@fdic.gov