FDIC MAKES PUBLIC FEBRUARY ENFORCEMENT ACTIONS;
TWO ADMINISTRATIVE HEARINGS SCHEDULED
FOR IMMEDIATE RELEASE PR-39-2002 (3-29-2002)
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 February. Two administrative hearings are scheduled for April.
The FDIC processed a total of eight orders in February. These included three cease-and-desist orders, two civil money penalties, one voluntary order terminating deposit insurance, and two terminations of cease-and-desist orders.
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(b), 12 U.S.C. § 1818(b)
Pan American Bank, Chicago, IL; FDIC-01-177b; Issued 2/6/02
Buffalo Savings Bank, Buffalo, IA; FDIC-01-182b; Issued 2/6/02
First State Bank, Tahlequah, OK; FDIC-01-166b; Issued 2/1/02
FINAL ORDERS ISSUED PURSUANT TO SECTION 8(i), 12 U.S.C. § 1818(i)
(Civil Money Penalties)
Bank of Chestnut, Chestnut, IL; FDIC-01-139k, Order to Pay Civil Money Penalty in the amount of $1,200; Issued 2/12/02
First Tri-County Bank, Swanton, NE; FDIC-01-130k; Order to Pay Civil Money Penalty in the amount of $1,750; Issued 2/27/02
FINAL ORDER ISSUED PURSUANT TO SECTION 8(q), 12 U.S.C. § 1818(q)
(Voluntary Termination of Insurance)
Citibank USA, Wilmington, DE; FDIC-02-001q; Issued 2/11/02
TERMINATION OF CEASE-AND-DESIST ORDERS
First State Bank of Sharon, Sharon, ND; FDIC-99-019b; Issued 2/7/02
Bank of Sierra Blanca, Sierra Blanca, TX; FDIC-99-142b; Issued 2/1/02
ADMINISTRATIVE HEARINGS SCHEDULED FOR APRIL 2002
Peoples Bank of Fordland, Fordland, MO; In the Matter of Steven Kindall; FDIC-00-098e; Section 8(e) Proceeding
April 8, 2002
Jeffrey B. Hill, Senior Attorney Kansas City Regional Office
Bank of Bolivar, Bolivar, TN; FDIC-01-125b; Section 8(b) Proceeding
April 8, 2002
Michael Tregle, Senior Attorney Kansas City Regional Office
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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 9,613 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 (800-276-6003 or (703) 562-2200).