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FDIC Enforcement Decisions and Orders

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{{7-31-98 p.C-4224.2}}
   [11,316]In the Matter of Robin Probst, Key Bank of Idaho, Boise, Idaho, Docket No. FDIC-94-176e (7-11-96)

   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
ROBIN PROBST, individually, and as
an institution-affiliated party of
KEY BANK OF IDAHO
BOISE,IDAHO
(Insured State Nonmember Bank)
FDIC-94-176e
ORDER OF PROHIBITION FROM
FURTHER PARTICIPATION

   Robin Probst ("Respondent") has been advised of the right to receive a NOTICE OF INTENTION TO PROHIBIT FROM FURTHER PARTICIPATION issued by the Federal Deposit Insurance Corporation ("FDIC") detailing the unsafe or unsound banking practices, and/or breaches of fiduciary duty for which an ORDER OF PROHIBITION FROM FURTHER PARTICIPATION ("ORDER") may issue, and has been further advised of the right to a hearing on the alleged charges under section 8(e) of the Federal Deposit Insurance Act ("Act"), 12 U.S.C. § 1818(e), 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 OF PROHIBITION FROM FURTHER PARTICIPATION ("CONSENT AGREEMENT") with a representative of the Legal Division of the FDIC, whereby solely for the purpose of this proceeding and without admitting or denying any unsafe or unsound banking practices, and/or any breaches of fiduciary duty,

[The next page is C-4225.]

{{9-30-96 p.C-4225}}

   Respondent consented to the issuance of an ORDER by the FDIC.
   The FDIC considered the matter and determined it had reason to believe that:

       (a) The Respondent has engaged or participated in unsafe or unsound banking practices, and/or breaches of fiduciary duty as an institution-affiliated party of the Key Bank of Idaho, Boise, Idaho ("Bank");
       (b) By reason of such practices and/or breaches of fiduciary duty, the Bank has suffered or will probably suffer financial loss or other damage, the interests of the Bank's depositors have been or could be prejudiced and/or Respondent received financial gain or other benefit; and
       (c) Such practices and/or breaches of fiduciary duty involve personal dishonesty on the part of the Respondent or demonstrate the Respondent's willful and/or continuing disregard for the safety or soundness of the Bank.
   The FDIC further determined that such practices and/or breaches of fiduciary duty demonstrate the Respondent's unfitness to serve as a director, officer, person participating in the conduct of the affairs or as an institution-affiliated party of the Bank, any other insured depository institution, or any other agency or organization enumerated in section 8(e)(7)(A) of the Act, 12 U.S.C. § 1818(e)(7)(A).
   The FDIC, therefore, accepted the CONSENT AGREEMENT and issued the following:

ORDER OF PROHIBITION FROM FURTHER PARTICIPATION

   1. Robin Probst is hereby, without the prior written approval 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), prohibited from:

   [.1] (a) participating in any manner in the conduct of the affairs of any financial institution or organization enumerated in section 8(e)(7)(A) of the Act, 12 U.S.C. § 1818 (e)(7)(A)1;

   [.2] (b) soliciting, procuring, transferring, attempting to transfer, voting, or attempting to vote any proxy, consent or authorization with respect to any voting rights in any financial institution enumerated in section 8(e)(7)(A) of the Act, 12 U.S.C. § 1818 (e)(7)(A);
   (c) violating any voting agreement previously approved by the appropriate Federal banking agency; or
   (d) voting for a director, or serving or acting as an institution-affiliated party.
   2. This ORDER will become effective ten (10) days after its issuance. The provisions of this ORDER will 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.
   3. Pursuant to section 18(k) of the Act, 12 U.S.C. § 1828(k), the Respondent shall not request or accept indemnification from the Bank or any person acting in concert with or on behalf of the Bank, as to any cost, fee, or obligation incurred by him as a result of this proceeding, and the Bank shall not pay or agree to pay such costs for the Respondent or anyone acting for or on behalf of him, including but not limited to, legal or other fees or costs paid or payable by or for the Respondent.
   Pursuant to delegated authority.
   Dated at Washington, D.C., this 11th day of July, 1996.


1 Subsection (b)(8), as referenced in section 8(e)(7)(A)(ii), has been redesignated as subsection (b)(9).

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