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FDIC Enforcement Decisions and Orders

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{{4-30-00 p.C-4863}}
   [11,686] In the Matter of Dirk A. Thierer, Hartford-Carlisle Savings Bank, Carlisle, Iowa, Docket No. 99-144e (1-5-00)

   Respondent prohibited from participating in the conduct of affairs of, or exercising voting rights in, any insured institution without the prior written approval of the FDIC.

   [.1] Prohibition, Removal or Suspension—Prohibition From—Participation in Conduct of Affairs

In the Matter of
DIRK A. THIERER, individually,
and as an officer, director, and
an institution-affiliated party of
HARTFORD-CARLISLE SAVINGS
BANK

CARLISLE, IOWA
(Insured State Nonmember Bank)
ORDER OF SUSPENSION
FROM OFFICE

FDIC-99-144e

   The Federal Deposit Insurance Corporation ("FDIC"), having reason to believe that Dirk A. Thierer ("Respondent"), individually, and as an officer, director, and institution-affiliated party of Hartford-Carlisle Savings Bank, Carlisle, Iowa ("Bank"), has engaged or participated in acts, omissions, and practices which constitute violations of law and regulations, unsafe or unsound banking practices, and breaches of his fiduciary duties to the Bank; that the Bank has suffered or will probably suffer financial loss or other damage, that the interests of its depositors have been prejudiced or could be prejudiced and/or that Respondent has received financial gain or other benefit by reason of such violations, practices and/or breaches of fiduciary duty; and that such violations, practices and/or breaches of fiduciary duty demonstrate Respondent's personal dishonesty and/or his willful or continuing disregard for the safety and soundness of the Bank, as specified in the attached FINDINGS OF FACT AND CONCLUSIONS OF LAW, has determined that it is necessary for the protection of the Bank and the interest of its depositors that Respondent be suspended from office as an officer and director of the Bank, and that he be prohibited from further participation in any manner in the conduct of the affairs of the Bank pending completion of the administrative proceeding commenced by the NOTICE OF INTENTION TO REMOVE FROM OFFICE AND TO PROHIBIT FROM FURTHER PARTICIPATION ("NOTICE") issued herein.
   The FDIC, therefore, issues this ORDER OF SUSPENSION FROM OFFICE ("ORDER"), pursuant to section 8(e)(3) of the Federal Deposit Insurance Act ("Act"), 12 U.S.C. § 1818(e)(3).

   [.1] IT IS HEREBY ORDERED that, pending completion of the administrative proceeding instituted pursuant to the foregoing NOTICE, Dirk A. Thierer is hereby suspended from office as a director and as president and chief executive officer of Hartford Carlisle Savings Bank and prohibited from participating in any manner in the conduct of the affairs of Hartford-Carlisle Savings Bank.
   This ORDER shall become effective immediately upon service upon Respondent.
   Pursuant to delegated authority.
   Dated at Washington, D.C., this 5th day of January, 2000.

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