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FDIC MAKES PUBLIC JULY ENFORCEMENT ACTIONS; NO ADMINISTRATIVE HEARINGS SCHEDULED

FOR IMMEDIATE RELEASE
PR-85-2003 (9-03-2003)
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 July. No administrative hearings are scheduled for September.

The FDIC processed a total of 18 orders in July. These included two cease-and-desist orders, four removal-and-prohibition orders, two civil money penalty orders, one termination of insurance order, seven terminations of cease-and-desist orders, and two adjudicated decisions.

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.

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

The Nekoma State Bank, La Crosse, KS; FDIC-03-108b Issued 7/10/03

First State Bank, Holly Springs, MS; FDIC-03-078b; Issued 7/16/03

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

Sterling State Bank, Austin, MN; FDIC-02-137e; against Jason W. Amundson; Issued 7/31/03

Citizens State Bank, Jasper, TN; FDIC-03-026e; against William Hal Davis; Issued 7/31/03

Citizens Bank & Trust Company of Grainger County, Rutledge, TN; FDIC-03-023e; against Robert L. Courtney, Jr.; Issued 7/31/03

River Bank, Stoddard, WI; FDIC-03-053e; against Sidney Bateman; Issued 7/30/03

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

Savanna-Thomson State Bank, Thomson, IL; FDIC-02-154k; Order to Pay against John Brigham in the amount of $5,000; Robert Froehlich in the amount of $2,000; Michael Grothusen in the amount of $2,000; and Cheryl Parker in the amount of $5,000; Issued 7/30/03

River Bank, Stoddard, WI; FDIC-03-054k; Order to Pay against Sidney Bateman in the amount of $5,000; Issued 7/30/03

FINAL ORDERS ISSUED PURSUANT TO SECTION 8(q), 12 U.S.C. 1818(q)
(Termination of Insurance)

North State National Bank, Chico, CA; FDIC-03-102q; Issued 7/1/03

TERMINATIONS OF CEASE-AND-DESIST ORDERS

Stockmans Bank, Elk Grove, CA; FDIC-02-104b; Issued 7/1/03

Southland Business Bank, Irwindale, CA, merged into and now known as Vineyard Bank, Rancho Cucamonga, CA; FDIC-02-156b; Issued 7/23/03

Valley Bank, Moreno Valley, CA; FDIC-01-055b; Issued 7/1/03

Rantoul First Bank, s.b., Rantoul, IL; FDIC-01-068b; Issued 7/22/03

LBS Bank - New York; New York City, NY; FDIC-03-142b; Issued 7/31/03

Nova Savings Bank, formerly known as vBank, a savings bank, Philadelphia, PA; FDIC-01-080b; Issued 7/16/03

Peoples Bank and Trust Company, Ryan, OK; FDIC-99-082b; Issued 7/31/03

ADJUDICATED DECISIONS

Connecticut Bank of Commerce, Stamford, CT; FDIC-02-174e; FDIC-02-158e; FDIC-02-160c&b; FDIC-02-161c&b; FDIC-02-175k; FDIC-02-176k; FDIC-02-177k; FDIC-02-178k; FDIC-02-179k; FDIC-02-180k; FDIC-02-181k; FDIC-02-182k; Decision and Order on Interlocutory Review; Issued 7/17/03

Cornerstone Community Bank, Chattanooga, TN; FDIC-00-050k; Decision and Order Denying Request for Stay; Issued 7/30/03

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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 9,314 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 or through the FDIC's Public Information Center (877-275-3342 or (703) 562-2200).

Last Updated 09/03/2003 communications@fdic.gov