Federal Deposit
Insurance Corporation

{{12-31-91 p.C-1583}}
   [¶10,358] In the Matter of Michael C. Stinson, First Bank & Trust Company, Cedar Hill, Texas, Docket No. FDIC-91-33e (10-17-91).

   Respondent prohibited from participating in the conduct of affairs of, or exercising voting rights in, any insured institution without the prior consent of the FDIC.

   [.1] Prohibition—Participation in Conduct of Affairs
   [.2] Prohibition—Exercise of Voting Rights

In the Matter of
MICHAEL C. STINSON, individually,
and as an officer, director,
and/or person participating in
the conduct of the affairs of
FIRST BANK & TRUST COMPANY
CEDAR HILL, TEXAS
(Insured State Nonmember Bank—In
Receivership)
ORDER OF PROHIBITION FROM
FURTHER PARTICIPATION
FDIC-91-33e

   Michael C. Stinson ("Respondent"), having been advised of his right to a NOTICE OF INTENTION TO PROHIBIT FROM FURTHER PARTICIPATION ("NOTICE") issued by the Federal Deposit Insurance Corporation ("FDIC") detailing violations of law, and/or unsafe or unsound practices, and/ or breaches of fiduciary duties alleged to have been committed by Respondent, individually, and as an officer, director, and/or person participating in the conduct of the affairs and an institution-affiliated party of First Bank & Trust Company, Cedar Hill, Texas, ("Depository Institution"), which, in the opinion of the FDIC, resulted in substantial financial loss or other damage to the Depository Institution and/or resulted in financial gain to Respondent, and which, in the opinion of the FDIC, demonstrated a willful or continuing disregard by Respondent for the safety or soundness of the Depository Institution and further evidenced Respondent's unfitness to participate in the conduct of the affairs of the Depository Institution, any other insured depository institution, or any other institution or Federal agency enumerated in section 8(e)(7) of the Federal Deposit Insurance Act ("Act"), 12 U.S.C. § 1818(e)(7), and having been advised of
{{12-31-91 p.C-1584}}his right to a hearing on the alleged charges pursuant to section 8(e) of the Act, 12 U.S.C. § 1818(e), and having waived those rights, entered into a STIPULATION AND CONSENT TO THE ISSUANCE OF AN ORDER OF PROHIBITION FROM FURTHER PARTICIPATION ("CONSENT AGREEMENT") with a representative of the Legal Division of the FDIC, dated August 7, 1991, whereby solely for the purpose of this proceeding and without admitting or denying any of the alleged violations of law and/or unsafe or unsound practices, and/or breaches of fiduciary duties, Respondent consented to the issuance of an ORDER OF PROHIBITION FROM FURTHER PARTICIPATION ("ORDER") by the FDIC.
   The FDIC considered the matter and determined that it has reason to believe that Respondent committed violations of law, and/or engaged in unsafe or unsound practices and/or breaches of fiduciary duties in his capacity as an officer, director, and/or person participating in the conduct of the affairs of and an institution-affiliated party of the Depository Institution, which have resulted in substantial financial loss or other damage to the Depository Institution, and/or resulted in financial gain to Respondent, and which demonstrated a willful or continuing disregard by Respondent for the safety or soundness of the Depository Institution and further evidenced Respondent's unfitness to participate in the conduct of the affairs of the Depository Institution, any other insured depository institution or any other institution of Federal agency enumerated in section 8(e)(7) of the Act, 12 U.S.C. § 1818(e)(7). The FDIC, therefore, accepted the CONSENT AGREEMENT and issued the following:

   [.1] 1. IT IS HEREBY ORDERED, that Michael C. Stinson is hereby prohibited from serving or acting as an institution-affiliated party of First Bank & Trust Company, Cedar Hill, Texas, without the prior written approval of the FDIC.
   2. FURTHER ORDERED, that Michael C. Stinson is hereby prohibited from voting, directly or indirectly, for a director, or serving or acting as an institution-affiliated party of any insured depository institution.
   3. FURTHER ORDERED, that Michael C. Stinson is hereby prohibited from serving or acting as an institution-affiliated party and/or participating in any manner in the conduct of the affairs of any of the institutions or agencies, listed herein, without the prior written consent of the FDIC and of the "appropriate Federal financial institutions regulatory agency" as that term is defined in section 8(e)(7)(D) of the Act, 12 U.S.C. § 1818(e)(7)(D), pursuant to the provisions of section 8(e)(7) of the Act, 12 U.S.C. § 1818(e)(7):

   (i) Any insured depository institution;
   (ii) Any institution treated as an insured bank under sections 8(b)(3) or (b)(4) of the Act, 12 U.S.C. § 1818(b)(3) or (b)(4), including (1) any bank holding company, (2) any subsidiary of a bank holding company, (3) any foreign bank that maintains a branch or agency in a State, (4) any foreign bank or foreign company controlling a foreign bank that controls a commercial lending company organized under State law, and any company of which any foreign bank or company referred to in (3) and (4), above, is a subsidiary, or as a savings association under section (8)(b)(8) of the Act, 12 U.S.C. § 1818(b)(8), including any savings and loan holding company, and subsidiary of a savings and loan holding company, any service corporation of a savings association, and any subsidiary of any service corporation of a savings association;
   (iii) Any insured credit union under the Federal Credit Union Act;
   (iv) Any institution chartered under the Farm Credit Act of 1971;
   (v) Any appropriate Federal depository institution regulatory agency;
   (vi) The Federal Housing Finance Board and any Federal home loan bank; and
   (vii) The Resolution Trust Corporation.