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[12,329] In the Matter of Howard C. Reget, State Bank of Hamburg, Hamburg, Minnesota, Docket No. 04-221k (11-19-04).

Respondent agrees to pay civil money penalty assessed by the FDIC in the amount of $7,500.

In the Matter of
HOWARD C. REGET,
individually and as an institution-affiliated party of
STATE BANK OF HAMBURG
HAMBURG, MINNESOTA
(Insured State Nonmember Bank)
ORDER TO PAY CIVIL MONEY PENALTY

FDIC-04-221k

Howard C. Reget ("Respondent"), has been advised of his right to receive a NOTICE OF ASSESSMENT OF CIVIL MONEY PENALTY, FINDINGS OF FACT, AND CONCLUSIONS OF LAW, ("NOTICE") issued by the Federal Deposit Insurance Corporation ("FDIC") stating the violations of law, unsafe or unsound banking practices and breaches of fiduciary duty for which an ORDER TO PAY CIVIL MONEY PENALTY ("ORDER TO PAY") may be issued. Respondent has been further advised of his right to a hearing on the charges under section 8(i)(2) of the Federal Deposit Insurance Act ("Act"), 12 U.S.C. §1818(i)(2), and the FDIC Rules of Practice and Procedure, 12 C.F.R. Part 308. Having waived those rights, the Respondent entered a STIPULATION AND CONSENT TO THE ISSUANCE OF AN ORDER TO PAY CIVIL MONEY PENALTY ("CONSENT AGREEMENT") whereby Respondent, solely for the purpose of this proceeding and without admitting or denying any violations of law and regulations, unsafe or unsound banking practices and breaches of fiduciary duty, consented to the issuance of an ORDER TO
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PAY CIVIL MONEY PENALTY ("ORDER") by the FDIC and agreed to pay a civil money penalty in the amount of $7,500 to the Treasury of the United States ("Treasury").

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 violations by Respondent, the history of previous violations by Respondent, and such other matters as justice requires, the FDIC accepts the CONSENT AGREEMENT and issues the following:

ORDER TO PAY CIVIL MONEY PENALTY

IT IS HEREBY ORDERED that a penalty in the amount of $7,500 be, and hereby is, assessed against Respondent Howard C. Reget. 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: (i) for the civil money penalty assessed and paid in this matter; or (ii) for any expenses, including attorneys' fees and disbursements, incurred by the Respondent in connection with this matter.

This ORDER shall be effective upon its issuance.

Pursuant to delegated authority.

Dated at Washington, D.C., this 19th day of November, 2004.



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Last Updated 4/16/2005 legal@fdic.gov