FDIC MAKES PUBLIC JANUARY ENFORCEMENT ACTIONS;
NO ADMINISTRATIVE HEARINGS SCHEDULED
FOR IMMEDIATE RELEASE PR-15-2003 (2-27-2003)
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 January. No administrative hearings are scheduled for March.
The FDIC processed a total of 11 orders in January. These included one cease-and-desist order, five civil money penalty orders, one prompt corrective action order, and four 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 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 ORDER ISSUED PURSUANT TO SECTION 8(b), 12 U.S.C. § 1818(b)
Bank of Chestnut, Chestnut, IL; FDIC-02-190b; Issued 1/30/03
FINAL ORDERS ISSUED PURSUANT TO SECTION 8(i), 12 U.S.C. § 1818(i)
(Civil Money Penalties)
Wakulia Bank, Crawfordville, FL; FDIC-02-134k; Order to Pay Civil Money Penalty in the amount of $1,600; Issued 1/29/03
Alliance Bank, Cape Girardeau, MO; FDIC-02-151k; Order to Pay Civil Money Penalty in the amount of $4,500; Issued 1/22/03
Bank of New Madrid, New Madrid, MO; FDIC-02-129k; Order to Pay Civil Money Penalty in the amount of $11,600; Issued 1/9/03
The Union Bank, Beulah, ND; FDIC-02-107k; Order to Pay Civil Money Penalty in the amount of $5,600; Issued 1/14/03
Guaranty Bank & Trust, Huntington, WV; FDIC-01-160k; Order to Pay Civil Money Penalty in the amount of $4,200; Issued 1/28/03
FINAL ORDER ISSUED PURSUANT TO SECTION 38, 12 U.S.C. § 1831o
(Prompt Corrective Action)
Southern Pacific Bank, Torrance, CA; FDIC-03-012PCAS; Issued 1/24/03
TERMINATIONS OF CEASE-AND-DESIST ORDERS
Frontier State Bank, Show Low, AZ; merged into and now known as: National Bank of Arizona, Tucson, AZ; FDIC-02-081b; Issued 1/16/03
Bank of Chestnut, Chestnut, IL; FDIC-00-131b; Issued 1/30/03
First Bank of Central Jersey, North Brunswick, NJ; FDIC-01-174b; Issued 1/16/03
The First State Bank of Munich, Munich, ND; FDIC-00-086b; Issued 1/31/03
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 9,415 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).