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FDIC Enforcement Decisions and Orders



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{{3-31-92 p.C-1821}}
   [10,418] In the Matter of Jon Gray Noll, Illini Bank, Springfield, Illinois, Docket No. FDIC-92-1b (1-9-92).

   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 ¶16,449).

   [.1] Prohibition—Service as Officer or Director
   [.2] Institution-Affiliated Party—Transactions Prohibited
   [.3] Institution-Affiliated Party—Restitution Required

In the Matter of
JON GRAY NOLL,
individually, and as an officer
and participant in the conduct of
the affairs, and as an
institution-affiliated
party of
ILLINI BANK
(formerly ILLINI BANK OF
SANGAMON COUNTY)
SPRINGFIELD, ILLINOIS
(Insured State Nonmember Bank)
ORDER TO CEASE AND DESIST
FDIC-92-1b

   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.
   The FDIC considered the matter and determined it had reason to believe that it could properly issue a NOTICE against the Respondent alleging the statutory factors under section 8(b) of the Act, 12 U.S.C. § 1818(b), and that it could properly issue an ORDER against the Respondent pursuant to section 8(b) of the Act, 12 U.S.C. § 1818(b). The FDIC, therefore, accepted the CONSENT AGREEMENT and issued the following:

ORDER TO CEASE AND DESIST

   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.
   (c) Notwithstanding the prohibition contained in subparagraph (b), before September 12, 1992, the Respondent shall repay or cause to be repaid the $1,800,000 participation loan (#911231-Noll/Ryan/ Davis) purchased by the Bank from First of America Bank, N.A., Springfield, Illinois.
   (d) As used in this paragraph, "extension of credit" shall be defined as it is in section 215.3 of Regulation O of the Board of Governors of the Federal Reserve System, 12 C.F.R. § 215.3, and "affiliate" shall be defined as it is in section 23A(b)
{{3-31-92 p.C-1822}}of the Federal Reserve Act, 12 U.S.C. § 371c(b).
   FURTHER ORDERED, that any attorney or other fees incurred by the Respondent as a result of this action shall not be paid, directly or indirectly, by the Bank.
   This ORDER shall become effective upon issuance by the FDIC.
   The provisions of this ORDER shall remain effective and enforceable except to the extent that, and until such time as, any provisions of this ORDER shall have been modified, terminated, suspended, or set aside by the FDIC.
   Dated this 9th day of January, 1992.
   Pursuant to delegated authority.



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