{{10-31-99 p.C-4777}}
[¶11,644] In the Matter of First Mountain Bank, Big Bear Lake, California, Docket No. 99-064k (8-13-99)
Respondent agrees to pay civil money penalty assessed by the FDIC in the amount of $2,500.
[.1] National Flood Insurance Act—Compliance Required
In the Matter of
FIRST MOUNTAIN BANK
(Insured State Nonmember Bank)
BIG BEAR LAKE, CALIFORNIA
ORDER TO PAY
CIVIL MONEY PENALTY
FDIC-99-064k
FIRST MOUNTAIN BANK ("Respondent") has been advised of the right to receive a NOTICE OF ASSESSMENT OF CIVIL MONEY PENALTY, FINDINGS OF FACT AND CONCLUSIONS OF LAW, ORDER TO PAY, AND NOTICE OF HEARING ("NOTICE") issued by the Federal Deposit Insurance Corporation ("FDIC") detailing the violations for which a civil money penalty may be assessed against Respondent pursuant to section 8(i)(2) of the Federal Deposit Insurance Act ("Act"), 12 U.S.C. § 1818(i)(2), and Part 339 of the FDIC Rules and Regulations, 12 C.F.R. § 339, and has been further advised of the right to a hearing on the alleged charges under section 8(i) of the 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 ORDER TO PAY CIVIL MONEY PENALTY ("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, Respondent consented and agreed to pay a civil money penalty in the amount of $2,500.00, related to its failure to complete flood hazard determination on all qualifying real estate as required by Part 339 of the FDIC Rules and Regulations.
[.1] The FDIC considered the matter and determined it had reason to believe that Respondent has engaged or participated in violations of law or regulations for which a civil money penalty of $2,450.00 is appropriate to be assessed against the Respondent pursuant to the National Flood Act, 42 U.S.C. § 4012a, Part 339 of the FDIC Rules and Regulations, 12 C.F.R. Part 339, and section 8(i)(2) of the Act, 12 U.S.C. § 1818(i)(2).
The FDIC, therefore, accepted the AGREEMENT and issued the following:
ORDER TO PAY
CIVIL MONEY PENALTY
IT IS HEREBY ORDERED, that FIRST MOUNTAIN BANK be, and hereby is, assessed a civil money penalty of $2,450.00 pursuant to the National Flood Act, 42 U.S.C. § 4012a, and section 8(i)(2) of the Act, 12 U.S.C. § 1818(i)(2), the receipt of which is hereby acknowledged.
Pursuant to delegated authority.
Dated at Washington, D.C., this 13th day of August, 1999.
