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FDIC Enforcement Decisions and Orders

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{{9-30-00 p.C-4268}}
   [11,348] In the Matter of David Gimbel, Thomas E. Lyons, Raymond P. O'Machel, and George A. Skweres, DuPage Valley State Bank, Woodridge, Ill., now merged with Bridgeview Bank and Trust Co., Bridgeview, Ill., Docket No. FDIC-96-58b (9-27-96).

   Respondents agree to cease and desist from violating Regulation O and to pay restitution. (This order was terminated by order of the FDIC dated 7-13-99; see ¶16,233.)

   [.1] Regulation O—Compliance Required
   [.2] Restitution—Payment Required
   [.3] Indemnification—Prohibited

In the Matter of
DAVID A. GIMBEL,
THOMAS E. LYONS,
RAYMOND P. O'MACHEL,
and GEORGE A. SKWERES
individually and as
institution-affiliated parties of
DUPAGE VALLEY STATE BANK
WOODRIDGE,ILLINOIS
   now merged into
BRIDGEVIEW BANK AND TRUST
COMPANY

BRIDGEVIEW,ILLINOIS
(Insured State Nonmember Bank)
ORDER TO CEASE AND DESIST
FDIC-96-58b

   David A. Gimbel, Thomas E. Lyons, Raymond P. O'Machel, and George A. Skweres ("Respondents"), having been advised of their
{{11-30-96 p.C-4268}}right to receive a NOTICE OF CHARGES AND OF HEARING detailing the violations of law and regulation and unsafe or unsound practices alleged to have been committed by the Respondents and of their right to a hearing on the charges under section 8(b) of the Federal Deposit Insurance Act ("Act"), 12 U.S.C. § 1818(b), and having 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 June 17, 1996, whereby solely for the purpose of this proceeding and without admitting or denying any charges of violation of law or regulation or any unsafe or unsound banking practices, Respondents consented to the issuance of an ORDER TO CEASE AND DESIST ("ORDER") by the FDIC.
   The FDIC considered the matter and determined it had reason to believe that the Respondents had engaged in unsafe or unsound practices. The FDIC, therefore, accepted the Consent Agreement and issued the following:

ORDER TO CEASE AND DESIST

   [.1] IT IS HEREBY ORDERED, that the Respondents cease and desist from violating section 215.4(a) of Regulation O of the Board of Governors of the Federal Reserve System, 12 C.F.R. § 215.4(a).

   [.2] IT IS FURTHER ORDERED, that the Respondents shall pay restitution of $4,000 each on or before the effective date of this ORDER and restitution of $4,000 each on or before December 31, 1996, to LaSalle National Trust N.A. as trustee for the DuPage Valley Liquidating Trust. In addition, the Respondents shall provide the Regional Director of the Chicago Regional Office of the FDIC with written confirmation from the trustee of receipt of each of the payments.

   [.3] IT IS FURTHER ORDERED, that the Respondents are prohibited from seeking or accepting indemnification from any insured depository institution or the DuPage Valley Liquidating Trust for the restitution paid under the terms of this ORDER or any other expenses, including attorney fees and disbursements incurred by the Respondents, in connection with this matter.
   The effective date of this ORDER shall be ten (10) days after its issuance by the FDIC.
   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.
   Pursuant to delegated authority.
   Dated this 27th day of September, 1996.

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