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[¶11,923] In the Matter of Steven L. Kindall, Peoples Bank of Fordland, Fordland,
Missouri, Docket No. 00-098e (5-7-02).
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
In the Matter of
STEVEN L. KINDALL,
individuallyand as an institution-affiliated party of
PEOPLES BANK OF FORDLAND
FORDLAND, MISSOURI
(Insured State Nonmember Bank)
ORDER OF PROHIBITION FROM FURTHER PARTICIPATION
FDIC-00-098e
Steven L. Kindall ("Respondent") has received a NOTICE OF
INTENTION TO PROHIBIT FROM FURTHER PARTICIPATION ("NOTICE")
issued by the Federal Deposit Insurance Corporation ("FDIC")
detailing the violations, 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 alleged charges under section
8(e) of the Federal Deposit Insurance Act ("Act"), 12 U.S.C.
§1818(e), and the FDIC 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
violations, unsafe or unsound banking practices, and/or any 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 violations,
unsafe or unsound banking practices, and/or breaches of fiduciary duty
as an institution-affiliated party of the Peoples Bank of Fordland,
Fordland, Missouri ("Bank");
(b) By reason of such violations, practices and/or breaches of
fiduciary duty, the Bank has suffered or will probably suffer financial
loss or other damage, the interests of the Bank's depositors have been
or could be prejudiced and/or Respondent received financial gain or
other benefit; and
(c) Such violations, practices and/or breaches of fiduciary duty
involve personal dishonesty on the part of the Respondent or
demonstrate the Respondent's willful and/or continuing disregard for
the safety and soundness of the Bank.
The FDIC further determined that such violations, 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. Steven L. Kindall 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]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]2. (b) soliciting, procuring, transferring, attempting to transfer,
voting, or attempting to vote any proxy, consent or authorization with
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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 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 at Washington, D.C., this 7th day of May, 2002.