{{7-31-04 p.C-6085}
[¶12,207] In the Matter of The Citizens Exchange Bank, Fairmont, Indiana,
Docket No. 04-034k (5-12-04).
Respondent agrees to pay civil money penalty assessed by the FDIC in
the amount of $4,000.
In the Matter of
THE CITIZENS EXCHANGE BANK
FAIRMONT, INDIANA
(Insured State Nonmember Bank)
ORDER TO PAY CIVIL MONEY PENALTY
FDIC-04-034k
The Citizens Exchange Bank, Fairmont, Indiana
("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 March 16, 2004, whereby Respondent, solely for the
purpose of this proceeding and without admitting or denying any
violations of law for which civil money penalties may be assessed,
consented and agreed to pay a civil money penalty 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
the Respondent, the gravity of the violations by the 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 violations set forth
in paragraph 3 of the CONSENT AGREEMENT, a penalty of $4,000.00 be, and
hereby is, assessed against the Respondent. The Respondent shall pay
the civil money penalty to the Treasury of the United States.
This ORDER TO PAY shall be effective upon issuance.
Pursuant to delegated authority.
Dated this 12th day of May, 2004.
