FDIC MAKES PUBLIC JUNE ENFORCEMENT ACTIONS;
NO ADMINISTRATIVE HEARINGS SCHEDULED
FOR IMMEDIATE RELEASE PR-87-2002 (7-30-2002)
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 June. No administrative hearings are scheduled for August.
The FDIC processed a total of 13 orders in June. These included four cease-and-desist orders, four civil money penalties, one prompt corrective action, one voluntary termination of deposit insurance and three 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.
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FINAL ORDERS ISSUED PURSUANT TO SECTION 8(b), 12 U.S.C. § 1818(b)
Saehan Bank, Los Angeles, CA; FDIC-02-100b; Issued 6/21/02
First Bank of Lincoln, Lincoln, MT; FDIC-02-029b; Issued 6/12/02
Purdum State Bank, Purdum, NE; FDIC-02-66b; Issued 6/28/02
Banco Financiero de Puerto Rico, Ponce, PR; FDIC-02-047b; Issued 6/10/02
FINAL ORDERS ISSUED PURSUANT TO SECTION 8(i), 12 U.S.C. § 1818(i)
(Civil Money Penalties)
Roslyn Savings Bank, Jericho, NY; FDIC-02-024k; Order to Pay Civil Money Penalty in the amount of $5,000; Issued 6/5/02
Tolland Bank, Vernon, CT; FDIC-02-059k; Order to Pay Civil Money Penalty in the amount of $4,000; Issued 6/10/02
The Monitor Bank, Big Prairie, OH; FDIC-01-188k; Order to Pay against Roger K. Gwin in the amount of $5,000; against James R. Smail in the amount of $5,000; against Joseph M. Watchel in the amount of $5,000; against John Barrington in the amount of $1,000; and against Paul A. Miller in the amount of $1,000; Issued 6/4/02
Kent County State Bank, Jayton, TX; FDIC-02-003e and FDIC-02-004k; Order of Prohibition From Further Participation against Vernon Beyle Murdock, Jr., and Civil Money Penalty in the amount of $2,500; Issued 6/10/02
FINAL ORDERS ISSUED PURSUANT TO SECTION 38, 12 U.S.C. § 1831o
(Prompt Corrective Action)
Connecticut Bank of Commerce, Stamford, CT; FDIC-02-101PCAD; Issued 6/25/02
FINAL ORDERS ISSUED PURSUANT TO SECTION 8(p), 12 U.S.C. § 1818(p)
(Voluntary Termination of Insurance)
The Hartford Bank, Hartford, CT; FDIC-02-056p; Issued 6/27/02
TERMINATIONS OF CEASE-AND-DESIST ORDERS
Savanna State Bank, Savanna, IL; FDIC-01-119b; Issued 6/28/02
First American Bank, Jackson, MS; FDIC-96-138b; Issued 6/17/02
Walthall Citizens Bank, Tylertown, MS (n/k/a Citizens Bank, Columbia, MS); FDIC-97-061b; Issued 6/21/02
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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 9,538 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).