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FDIC Enforcement Decisions and Orders
Respondent agrees to cease and desist from unsafe or unsound banking practices and is prohibited from serving as an officer or director of any insured institution. (This Order was terminated by Order of the FDIC dated 12-16-05; see ¶
In the Matter of
Jon Gray Noll ("Respondent"), individually, and as an officer and participant in the conduct of the affairs, and as an institution-affiliated party, as that term is defined in section 3(u) of the Federal Deposit Insurance Act ("Act"), 12 U.S.C. § 1813(u), of Illini Bank (formerly Illini Bank of Sangamon County), Springfield, Illinois ("Bank"), having been advised of his right to a NOTICE OF CHARGES AND OF HEARING ("NOTICE") properly alleging the statutory grounds under section 8(b) of the Act, 12 U.S.C. § 1818(b), and of his right to a hearing on said allegations under section 8(b) of the Act, 12 U.S.C. § 1818(b), and having knowingly waived those rights, entered into a STIPULATION AND CONSENT TO THE ISSUANCE OF AN ORDER TO CEASE AND DESIST ("CONSENT AGREEMENT") with counsel for the Federal Deposit Insurance Corporation ("FDIC"), dated January 2, 1992, whereby, solely for the purpose of this proceeding and without admitting or denying said allegations, the Respondent consented to an ORDER TO CEASE AND DESIST ("ORDER") by the FDIC.
IT IS HEREBY ORDERED, that the Respondent cease and desist from unsafe or unsound banking practices and violations of law and regulation, and take affirmative action as follows:
[.1] 1. As of the effective date of this ORDER, the Respondent shall not serve as an officer or director of any insured depository institution, as that term is defined in section 3(c) of the Act, 12 U.S.C. § 1813(c).
[.2] 2. (a) As of the effective date of this ORDER, the Respondent shall be prohibited from directly or indirectly obtaining any additional extensions of credit from the Bank and any other bank which is or becomes an affiliate of Illini Community Bancorp, Inc. ("Illini").
[.3] (b) As of February 28, 1992, the Respondent shall repay or cause to be repaid all extensions of credit made directly or indirectly to the Respondent by the Bank and any other bank which is an affiliate of Illini.
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