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FDIC Enforcement Decisions and Orders

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{{4-1-90 p.C-278}}
   [10,054A] In the Matter of David B. Moore, Docket No. FDIC-90-18e (3-16-90).

   Director and officer prohibited from further participation in Bank's affairs and from participation in the affairs of, or the exercise of voting rights in, any insured bank.

   [.1] Prohibition, Removal, or Suspension—Prohibition—Participation in Affairs of Bank
   [.2] Prohibition, Removal, or Suspension—Prohibition—Participation in Affairs of Any Insured Bank
   [.3] Prohibition, Removal, or Suspension—Prohibition—Exercise of Voting Rights

{{6-30-93 p.C-278.1}}
In the Matter of
DAVID B. MOORE
individually, and as a director, officer
and
participant in the conduct of the affairs
of
FARMERS SAVINGS BANK
IRWIN, IOWA
(Insured State Nonmember Bank)
ORDER OF REMOVAL FROM
OFFICE AND OF PROHIBITION
FROM FURTHER PARTICIPATION

   David B. Moore ("Respondent"), having been advised of his right to a NOTICE OF INTENTION TO REMOVE FROM OFFICE AND TO PROHIBIT FROM FURTHER PARTICIPATION ("NOTICE") issued by the Federal Deposit Insurance Corporation ("FDIC"), detailing the unsafe or unsound banking practices and violations of law, rule, regulation or final order demonstrating alleged willful or continuing disregard for safety and soundness by Respondent individually and in his capacity as a director, officer and participant in the conduct of the affairs of Farmers Savings Bank, Irwin, Iowa ("Bank") resulting in alleged substantial financial loss or other damage to the Bank's depositors, and having been further advised of his right to a hearing on the alleged charges under section 8(e) of the Federal Deposit Insurance Act ("Act"), 12 U.S.C. § 1818(e), and Part 308 of the FDIC's Rules of Practice and Procedures, 12 C.F.R. Part 308, waived those rights, and entered into a STIPULATION AND CONSENT TO THE ISSUANCE OF AN ORDER OF REMOVAL FROM OFFICE AND OF PROHIBITION FROM FURTHER PARTICIPATION ("CONSENT AGREEMENT") with a representative of the Legal Division of the FDIC, dated March 8, 1989, whereby solely for the purpose of this proceeding and without admitting or denying any unsafe or unsound banking practices and any violations of law, rule, regulation or final order. Respondent consented to the issuance of an ORDER OF REMOVAL FROM OFFICE AND OF PROHIBITION FROM FURTHER PARTICIPATION ("ORDER") by the FDIC.
   The FDIC considered the matter and determined it had reason to believe that:
   (i) Respondent had engaged or participated in unsafe or unsound banking practices and violations of law, rule, regulation or final order as a director, officer and participant in the conduct of the affairs of the Bank;
   (ii) The Bank suffered substantial financial loss or other damage and the interests of the Bank's depositors were seriously prejudiced by reason of such practices and violations; and
   (iii) Such practices and violations demonstrated Respondent's willful or continuing disregard for the safety or soundness of the Bank.
   The FDIC further determined that such practices and violations demonstrated Respondent's unfitness to continue to serve as a director, officer or participant in the conduct of the affairs of the Bank, or as a director, officer or participant in the conduct of the affairs of any other bank insured by the FDIC. The FDIC, therefore, accepted the CONSENT AGREEMENT and issued the following:

ORDER OF REMOVAL FROM
OFFICE AND OF PROHIBITION
FROM FURTHER PARTICIPATION

   [.1] 1. David B. Moore is hereby prohibited from participating in any manner in the conduct of the affairs of the Bank, or directly or indirectly soliciting or procuring, or transferring or attempting to transfer, or voting or attempting to vote, any proxies, consents or authorization in respect of any voting rights in the Bank.

   [.2] 2. David B. Moore is hereby prohibited from serving or acting as a director, officer, or employee of, or participating in any manner in the conduct of the affairs of, any bank insured by the FDIC without the prior written approval of the appropriate Federal banking agency as that term is defined in section 3(q) of the Act, 12 U.S.C. § 1813(q).

   [.3] 3. David B. Moore is hereby prohibited from voting for a director of any bank insured by the FDIC without the prior written approval of the appropriate Federal banking agency as that term is defined in section 3(q) of the Act, 12 U.S.C. § 1813(q).
   This ORDER shall become effective ten (10) days after the date of its issuance.
   The provisions of this ORDER shall remain effective and enforceable except to the extent that, and until such time as, any pro- {{6-30-93 p.C-278.2}}vision of this ORDER shall have been modified, terminated, suspended, or set aside by the FDIC.
   Date of Issuance: March 16, 1990.
   Pursuant to delegated authority.

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Last Updated 6/6/2003 legal@fdic.gov