FDIC MAKES PUBLIC DECEMBER ENFORCEMENT ACTIONS;
NO ADMINISTRATIVE HEARINGS SCHEDULED
FOR IMMEDIATE RELEASE PR-9-2002 (1-31-2002)
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 December. No administrative hearings are scheduled for February.
The FDIC processed a total of 15 orders in December. These included three removal and prohibition orders, five civil money penalties, three voluntary orders terminating deposit insurance, three terminations of cease-and-desist orders, and one call report penalty.
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 800-276-6003). The orders will also be made available on-line within a week of the issuance of this news release. To view the orders on-line, 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(e), 12 U.S.C. § 1818(e) (Removal and Prohibition Orders)
Bestbank, Boulder, CO; FDIC-98-110e; against Edward P. Mattar, III; Issued 12/27/01
Medway Co-Operative Bank, Medway, MA; FDIC-01-083e; against Robert J. Stratton; Issued 12/21/01
First American Bank, SSB, Bryan, TX; FDIC-00-129e; against Wendlyn McNew; Issued 12/10/01
FINAL ORDERS ISSUED PURSUANT TO SECTION 8(i), 12 U.S.C. § 1818(i) (Civil Money Penalties)
Heritage Oaks Bank, Paso Robles, CA; FDIC-01-112k; Order to Pay Civil Money Penalty in the amount of $2,500; Issued 12/27/01
Valrico State Bank, Valrico, FL; FDIC-01-053k; Order to Pay Civil Money Penalty in the amount of $1,000; Issued 12/27/01
The Peoples State Bank, Ellettsville, IN; FDIC-01-084k; Order to Pay Civil Money Penalty in the amount of $10,000; Issued 12/20/01
Independence Bank, New Albany, IN; FDIC-01-114k; Order to Pay Civil Money Penalty in the amount of $3,800; Issued 12/18/01
Unico Bank, Irondale, MO; FDIC-01-088k; Order to Pay Civil Money Penalty in the amount of $12,000; Issued 12/12/01
ORDERS ISSUED PURSUANT TO SECTION 8(p), 12 U.S.C. § 1818(p) (Voluntary Terminations of Insurance)
First Retail Bank, N.A., Flowery Branch, GA; FDIC-01-151p; Issued 12/20/01
FINAL ORDER ISSUED PURSUANT TO SECTION 7(a), 12 U.S.C. § 1817(a)
(Call Report Penalty)
Reliance Bank, White Plains, NY; CR-01-0004-004; Stipulation and Consent Order to Pay $3,120; Issued 12/18/01
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 9,747 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 via the World Wide Web at www.fdic.gov and may also be obtained through the FDIC's Public Information Center (800-276-6003 or (703) 562-2200).