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FDIC Enforcement Decisions and Orders

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{{10-31-91 p.TC-88}}
   [15,312] Docket No. FDIC-91-152c&b, 8-5-91

In the Matter of
LOUIS W. FORTENBERRY
DORIS PALMER
MARY H. KAY, and
LARRY WHITEHEAD, individually
and
THE BANK OF WALNUT
WALNUT, MISSISSIPPI
(Insured State Nonmember Bank)
MODIFICATION OR ORDER
TO CEASE AND DESIST

   Due to inadvertence, the name of Robert Beall was included in the caption of the ORDER TO CEASE AND DESIST ("ORDER") issued in this matter on July 19, 1991, and the name of Respondent Louis W. Fortenberry was shown as Louis T. Fortenberry in the ORDER's caption and introductory paragraph.
   The FDIC considered the matter and determined that the ORDER's caption and introductory paragraph should be modified to delete the name of Robert Beall and to correctly reflect the name of Louis W. Fortenberry and that the rest of the ORDER should remain unchanged. Therefore, the caption and introductory paragraph of the ORDER are hereby modified to reach as follows:
In the Matter of
LOUIS W. FORTENBERRY,
individually, and as a director
and institution-affiliated party
of The Bank of Walnut, Walnut,
Mississippi;
and
DORIS PALMER, individually, and
as cashier, director and
institution-affiliated party of
The Bank of Walnut, Walnut,
Mississippi;
and
MARY H. RAY, individually, and
as assistant cashier, director
and institution-affiliated party
of The Bank of Walnut, Walnut,
Mississippi;
and
LARRY WHITEHEAD, individually,

{{10-31-91 p.TC-89}}
and as president/chief executive
officer, chairman of the board
of directors and institution-
affiliated party of The Bank of
Walnut, Walnut, Mississippi;
and
THE BANK OF WALNUT
WALNUT, MISSISSIPPI
(Insured State Nonmember Bank)
ORDER TO CEASE AND DESIST
FDIC-91-152c&b

   The Federal Deposit Insurance Corporation ("FDIC") on June 6, 1991, issued to The Bank of Walnut, Walnut, Mississippi ("Bank"), and Robert Beall, Louis W. Fortenberry, Doris Palmer, Mary H. Ray, and Larry Whitehead ("Respondents"), a NOTICE OF CHARGES AND OF HEARING ("NOTICE"), pursuant to section 8(b)(1) of the Federal Deposit Insurance Act ("Act"), 12 U.S.D. § 1818(b)(1), and a TEMPORARY ORDER TO CEASE AND DESIST ("TEMPORARY ORDER") pursuant to section 8(c)(3)(A) of the Act, 12 U.S.C. § 1818(c)(3)(A). The NOTICE charges the Bank and/or Respondents with having engaged in unsafe or unsound banking practices.
   The provisions of this MODIFICATION OF ORDER TO CEASE AND DESIST, as set out immediately above, shall be binding upon the Bank, its subsidiaries, affiliates, directors, officers, employees, agents, successors, assigns, and other institution-affiliated parties of the Bank.
   Except as specifically modified herein, all of the terms and conditions of the ORDER heretofore issued against the Bank on July 19, 1991, and which became effective on July 29, 1991, shall remain in full force and effect.
   The provisions of this MODIFICATION OF ORDER TO CEASE AND DESIST shall remain effective and enforceable except to the extent that, and until such time as, any provisions of this MODIFICATION OF ORDER TO CEASE AND DESIST shall have been modified, terminated, suspended, or set aside by the FDIC.
   Dated at Memphis, Tennessee, this 5th day of August, 1991.
   Pursuant to delegated authority.

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