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{{7-31-04 p.C-5933}}

   [12,127] In the Matter of Barry S. Armstrong and Peoples Bank of Mount Washington, Mount Washington, Kentucky, Docket No. 03-146k (11-20-03).

   Respondent agrees to pay civil money penalty assessed by the FDIC in the amount of $2,500.

In the Matter of
BARRY S. ARMSTRONG,
individually, and as institution-affiliated party of
PEOPLES BANK OF MOUNT WASHINGTON
MOUNT WASHINGTON, KENTUCKY
(Insured State Nonmember Bank)
ORDER TO PAY

FDIC-03-146k

   Barry S. Armstrong ("Respondent") and a representative of the Legal Division of the Federal Deposit Insurance Corporation ("FDIC") executed a STIPULATION AND CONSENT TO THE ISSUANCE OF AN ORDER TO PAY ("CONSENT AGREEMENT") dated August 22, 2003, whereby Respondent, solely for the purpose of this proceeding and without admitting or denying any violation of law for which civil money penalties may be assessed, consented and agreed to pay civil money penalties in the amount specified below to the Treasury of the United States.

   After taking into account the CONSENT AGREEMENT, the appropriateness of the penalty with respect to the financial resources and good faith of Respondent, the gravity of the violation by Respondent, the history of previous violations by Respondent, and such other matters as justice may require, the FDIC accepts the CONSENT AGREEMENT and issues the following:

ORDER TO PAY

   IT IS HEREBY ORDERED, that by reason of the violation set forth in paragraph 3 of the CONSENT AGREEMENT, a penalty of $2,500 be, and hereby is, assessed against Barry S. Armstrong. The Respondent shall pay the civil money penalty to the Treasury of the United States.

   IT IS FURTHER ORDERED, that the Respondent is prohibited from seeking or accepting indemnification from any insured depository institution for the civil money penalty assessed and paid in this matter.

   This ORDER TO PAY shall be effective upon issuance.

   Pursuant to delegated authority.

   Dated this 20th day of November, 2003.

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Last Updated 8/29/2004 legal@fdic.gov