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FDIC Enforcement Decisions and Orders

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{{5-31-97 p.C-4322}}
   [11,392] In the Matter of Tommy Kendrick, The Citizen's Bank of Lometa, Lometa, Texas, Docket No. 95-172k (3-7-97)

   Respondent agrees to pay civil money penalty assessed by FDIC.

   [.1] Civil Money Penalty

In the Matter of
TOMMY KENDRICK, individually and
as an institution-affiliated party of
THE CITIZEN'S STATE BANK OF
LOMETA

LOMETA,TEXAS
(Insured State Nonmember Bank)
AMENDED ORDER TO PAY CIVIL
MONEY PENALTY

FDIC-95-172k

   The Federal Deposit Insurance Corporation ("FDIC") issued a NOTICE OF ASSESSMENT OF CIVIL MONEY PENALTY, FINDINGS OF FACT AND CONCLUSIONS OF LAW, ORDER TO PAY, AND NOTICE OF HEARING ("NOTICE") to Tommy Kendrick ("Respondent"), assessing a civil money penalty pursuant to section 8(i)(2) of the Federal Deposit Insurance Act ("Act"), 12 U.S.C. § 1818(i)(2), and further advised the Respondent of his right to a hearing on the alleged charges under section 8(i) of the Act, 12
   U.S.C. § 1818(i), and the FDIC Rules of Practice and Procedure, 12 C.F.R. Part 308; and
   Having waived those rights, the Respondent entered into a STIPULATION AND CONSENT TO THE ISSUANCE OF AN ORDER TO PAY A CIVIL MONEY PENALTY ("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 violations of laws and/or regulations the Respondent consented and agreed to pay a civil money penalty in the amount of $30,000.
   The FDIC considered the matter and determined it had reason to believe that the Respondent engaged in violations of laws and/or regulations.
   After taking into account said CONSENT AGREEMENT, the appropriateness of the penalty with respect to the financial resources and good faith of the Respondent, the gravity of the violations by the Respondent, the history of previous violations by {{5-31-97 p.C-4323}}the Respondent, and such other matters as justice may require, the FDIC accepts the CONSENT AGREEMENT and issues the following:

ORDER TO PAY CIVIL MONEY PENALTY

   [.1] IT IS HEREBY ORDERED that Tommy Kendrick be, and hereby is, assessed a civil money penalty of $30,000 pursuant to section 8(i)(2) of the Act, 12 U.S.C. § 1818(i)(2).
   IT IS FURTHER ORDERED that Tommy Kendrick shall pay the civil money penalty of $30,000 within 30 days of the effective date of this ORDER.
   This ORDER shall become effective ten (10) days after its issuance.
   Pursuant to delegated authority.
   Dated at Washington, D.C., this 7th day of March, 1997.

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Last Updated 6/6/2003 legal@fdic.gov