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FDIC Enforcement Decisions and Orders

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{{2-28-93 p.C-2888}}
   [10,680] In the Matter of Roy W. Talmo, First American Bank and Trust, North Palm Beach, Florida, Docket No. FDIC-90-235e (12-4-92).

   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
ROY W. TALMO, individually, and as a
director, chairman of the board
of directors, and a participant in
the conduct of the affairs of
FIRST AMERICAN BANK AND
TRUST

NORTH PALM BEACH, FLORIDA
(Insured State Nonmember Bank—In Receivership)
ORDER OF PROHIBITION
FROM FURTHER PARTICIPATION
AS TO ROY W. TALMO

FDIC-90-235e

   Roy W. Talmo ("Respondent"), having received a NOTICE OF INTENTION TO PROHIBIT FROM FURTHER PARTICIPATION ("NOTICE") issued by the Federal Deposit Insurance Corporation ("FDIC") detailing conduct and/or practices alleged to have been engaged in by Respondent individually, and in his capacity as a director, chairman of the board of directors and a participant in the conduct of the affairs of First American Bank and Trust, North Palm Beach, Florida ("Bank"), for which an ORDER OF PROHIBITION FROM FURTHER PARTICIPATION ("ORDER") may issue pursuant to section 8(e) of the Federal Deposit Insurance Act ("Act"), 12 U.S.C. § 1818(e); and having been further advised of his right to a hearing on the alleged charged under section 8(e) of the Act, 12 U.S.C. § 1818(e), and Part 308 of the FDIC Rules of Practice and Procedure, 12 C.F.R. Part 308, 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 October 13, 1992, whereby, solely for the purpose of this proceeding, and before the taking of any testimony, the finding of any fact or law and any adjudication by the FDIC Board of Directors, Respondent consented to the issuance of an ORDER by the FDIC.
   The FDIC considered the matter and determined that it had reason to believe that Respondent had engaged or participated in conduct and/or practices for which an ORDER may issue pursuant to section 8(e) of the Act, 12 U.S.C. § 1818(e). The FDIC, therefore, accepted the CONSENT AGREEMENT and issued the following:

ORDER OF PROHIBITION FROM
FURTHER
PARTICIPATION AS TO ROY W. TALMO

   [.1] 1. IT IS HEREBY ORDERED, in accordance with the CONSENT AGREEMENT, that the Respondent shall not participate in any manner in the conduct of the affairs of any insured depository institution, agency or organization enumerated in section 8(e)(7)(A) of the Act, 12 U.S.C. § 1818(e)(7)(A)(1989), without the prior written consent of the FDIC and 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).

   [.2] 2. IT IS FURTHER ORDERED, that the Respondent shall not solicit, procure, transfer, attempt to transfer, vote, or attempt to vote any proxy, consent, or authorization with respect to any voting rights in any insured depository institution, agency, or organization enumerated in section 8(e)(7)(A) of the Act, 12 U.S.C. § 1818(e) {{1-31-96 p.C-2889}}(7)(A), without the prior written consent of the FDIC and 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).
   3. IT IS FURTHER ORDERED, that the Respondent shall not violate any voting agreement with respect to any insured depository institution, agency, or organization enumerated in section 8(e)(7)(A) of the Act, 12 U.S.C. § 1818(e)(7)(A), previously approved by the appropriate Federal financial institutions regulatory agency, without the prior written consent of the FDIC and 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).
   4. IT IS FURTHER ORDERED, that the Respondent shall not vote for a director, or serve or act as an institution-affiliated party, as that term is defined in section 3(u) of the Act, 12 U.S.C. § 1813(u), of any insured depository institution, agency, or organization, enumerated in section 8(e)(7)(A) of the Act, 12 U.S.C. § 1818(e)(7)(A), without the prior written consent of the FDIC and 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).
   This ORDER shall become effective ten days after 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 provision of this ORDER shall have been modified, terminated, suspended, or set aside by the FDIC.
   Dated at Washington, D.C., this 4th day of December 1992.
   Pursuant to delegated authority.

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