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[¶11,764] In the Matter of Charles R. Huffman, Republic Bank of Norman, Norman,
Oklahoma, Docket No. 00-056e (2-7-01)
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 SuspensionProhibition FromParticipation in
Conduct of Affairs
[.2] Prohibition, Removal or SuspensionProhibition FromVoting Rights,
Exercise of
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In the Matter of
CHARLES R. HUFFMAN
individually, and as an institution-affiliated
party of
REPUBLIC BANK OF NORMAN
NORMAN, OKLAHOMA
(Insured State Nonmember Bank)
ORDER OF PROHIBITION FROM FURTHER PARTICIPATION
FDIC-00-056e
Charles R. Huffman ("Respondent") has been advised of the
right to receive a NOTICE OF INTENTION TO PROHIBIT FROM FURTHER
PARTICIPATION ("NOTICE") 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 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 breaches of fiduciary duty
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 Republic Bank of Norman, Norman,
Oklahoma;
(b) By reason of such practices and/or breaches of fiduciary duty, the
Bank has suffered a financial loss; and
(c) Such practices and/or breaches of fiduciary duty 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. Charles R. Huffman 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);
[.2](b) soliciting, procuring, transferring, attempting to transfer,
voting, or attempting to vote on 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.
Pursuant to delegated authority.
Dated this 7th day of February, 2001.