Respondent is 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. (This order was terminated by
order of the FDIC dated 11-10-03; see ¶16,361.)
Respondent is 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
{{12-31-03 p.C-5881}}
In the Matter of
JERRY GIVENS,
individually, and as an
institution-affiliated party of
FIRST STATE BANK
ABERNATHY, TEXAS
(Insured State Nonmember Bank)
ORDER OF PROHIBITION FROM FURTHER PARTICIPATION AND CIVIL MONEY PENALTY
FDIC-02-131e
FDIC-02-133k
Jerry Givens (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 violations, unsafe
or unsound banking practices, and/or breaches of fiduciary duty for
which an ORDER OF PROHIBITION FROM FURTHER PARTICIPATION AND CIVIL
MONEY PENALTY ("ORDER") may issue, and has been further
advised of the right to a hearing on the alleged charges under section
8(e) and 8(i) of the Federal Deposit Insurance Act ("Act"), 12
U.S.C. §1818(e) and 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 THE
ISSUANCE OF AN ORDER OF PROHIBITION FROM FURTHER PARTICIPATION AND
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,
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 First State Bank, Abernathy,
Texas ("Bank");
(b) By reason of such violations, practices and/or breaches of
fiduciary duty, the bank has suffered more than a minimal financial
loss or other damage, the interests of the Bank's depositors have been
prejudiced, and Respondent received financial gain; 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 or 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). Furthermore, the FDIC, after taking into account the
CONSENT AGREEMENT, the appropriateness of the penalty with respect to
the financial resources and good faith of the Respondent, the gravity
of the alleged violations by Respondent, the history of previous
violations by Respondent, and such other matters as justice may
require, the FDIC accepted the CONSENT AGREEMENT and issued the
following:
ORDER OF PROHIBITION FROM FURTHER PARTICIPATION AND CIVIL MONEY PENALTY
1. Jerry Givens 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:
(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);
(b) soliciting, procuring, transferring, attempting to transfer,
voting, or attempting to vote 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; and
(d) voting for a director, or serving or acting as an
institution-affiliated party.
2. (a) Jerry Givens is hereby assessed a penalty of $75,000,
payable in certified funds,
{{12-31-03 p.C-5882}}
to the order of the Treasurer of the United
States; and
(b) Respondent is further prohibited from seeking or accepting
indemnification from any insured depository institution for the civil
money penalty assessed and paid in this matter.
3. This ORDER will become effective upon 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 1st day of October, 2003.