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FDIC Enforcement Decisions and Orders

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{{7-31-96 p.C-4185}}
[11,281A] In the Matter of South Trust Bank of South Mississippi, Biloxi, Miss., Docket No. FDIC-95-184k (4-16-96)

   Respondent agrees to pay civil money penalty assessed by FDIC.
In the Matter of

SOUTHTRUST BANK OF SOUTH
MISSISSIPPI

BILOXI, MISSISSIPPI
(Insured State Nonmember Bank)
ORDER TO PAY
FDIC-95-184k

   SouthTrust Bank of South Mississippi, Biloxi, Mississippi ("Respondent"), has been advised of the right to receive a NOTICE OF ASSESSMENT OF CIVIL MONEY PENALTIES, FINDINGS OF FACTS AND CONCLUSIONS OF LAW, ORDER TO PAY, AND NOTICE OF HEARING ("NO-
{{7-31-96 p.C-4186}}TICE") issued by the Federal Deposit Insurance Corporation ("FDIC") detailing the violations, unsafe or unsound banking practices, and/or breaches of fiduciary duty for which an ORDER TO PAY may issue, and has been further advised of the right to a hearing on the alleged charges under section 8(i) of the Federal Deposit Insurance Act ("Act"), 12 U.S.C. § 1818(i), and the FDIC's Rules of Practice and Procedure, 12 C.F.R. Part 308. Having waived those rights, the Respondent entered into a STIPULATION AND CONSENT TO THE ISSUANCE OF AN ORDER TO PAY ("CONSENT AGREEMENT") with a representative of the Legal Division of the FDIC, whereby solely for the purposes of this proceeding and without admitting or denying any violations, unsafe or unsound banking practices, and/or any breaches of fiduciary duty, Respondent consented to the issuance of an ORDER TO PAY by the FDIC. Respondent agreed to pay a civil money penalty in the amount of $5,000 in the form of checks made payable to the Treasurer of the United States.
   IT IS HEREBY ORDERED, that a penalty of $5,000 be, and hereby is, assessed against South Trust Bank of South Mississippi pursuant to section 8(i)(2) of the Act, 12 U.S.C. § 1818(i)(2).
   Said penalty shall be paid in the form of a check made payable to the Treasurer of the United States pursuant to section 308.118 of the FDIC Rules and Regulations, 12 C.F.R. § 308.118, with a copy of said check forwarded to the FDIC's Memphis Regional Office.
   Dated at Washington, D.C. this 16th day of April, 1996.
   Pursuant to delegated authority.

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