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{{4-30-93 p.TC-180}}
   [15,589] Docket No. FDIC-91-386b (1-25-93)

In the Matter of

GULF SOUTH BANK AND TRUST COMPANY
GRETNA,
LOUISIANA
(Insured State Nonmember Bank)
MODIFICATION OF
ORDER TO CEASE AND DESIST

   The ORDER TO CEASE AND DESIST ("ORDER") issued to the Gulf South Bank and Trust Company, Gretna, Louisiana ("Bank") by the Federal Deposit Insurance Corporation ("FDIC") on November 26, 1991, is hereby amended and modified as follows:
   1. Peter P. Brechtel, Jr., Max Gritzman, F. Emmett Meyer, Gerard E. Schexnayder, J.T. Simon, Jr., and Frank L. Taulli (collectively, "Guarantors") shall be named in the heading as follows:
In the Matter of

GULF SOUTH BANK AND TRUST
COMPANY
,
GRETNA,
LOUISIANA
(Insured State Nonmember Bank)
and
PETER P. BRECHTEL, JR.,
MAX GRITZMAN,
F. EMMETT MEYER,
GERARD E. SCHEXNAYDER,
J.T. SIMON, JR.,and
FRANK L. TAULLI,
individually and as
institution-affiliated parties of
GULF SOUTH BANK AND TRUST
COMPANY

GRETNA,
LOUISIANA

   2. Paragraph 3(a) shall be amended and modified as follows:

       3. (a) (1) The Bank shall, on or before December 31, 1992, increase its Tier 1 capital by no less than $300,000 and achieve adjusted Tier 1 capital equal to or greater than 4.0% of the Bank's total assets as of December 31, 1992, as reflected in the Bank's Consolidated Report of Condition and Income ("Call Report").
       (2) In addition to the requirements of Subparagraph 3(a)(1) above, the Bank shall, on or before June 30, 1993, achieve and maintain adjusted Tier 1 capital equal to or greater than 5.1% of the Bank's adjusted Part 325 total assets.
       (3) In addition to the requirements of Subparagraph 3(a)(2) above, the Bank shall, on or before December 31, 1993, achieve and maintain adjusted Tier 1 capital equal to or greater than 6.0% of the Bank's adjusted Part 325 total assets.
       (4) If the Bank fails to achieve adjusted Tier 1 capital equal to or greater than 6.0% of the Bank's adjusted Part 325 total assets on or before December 30, 1993, the Guarantors, acting in their individual capacities, shall no later than December 31, 1993, contribute funds in an amount sufficient to increase the Bank's adjusted Tier 1 capital to a ratio of six (6.0) percent of the Bank's adjusted Part 325 total assets. Compliance with the required capital ratio shall be determined by the FDIC in its sole discretion.
   The provisions of this MODIFICATION OF ORDER TO CEASE AND DESIST shall be binding upon the Guarantors and the Bank, its subsidiaries, affiliates, directors, officers, employees, agents, successors, as- {{4-30-93 p.TC-181}}signs, 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 November 26, 1991, and which became effective on December 6, 1991, is hereby republished and 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 25th day of January, 1993.
   Pursuant to delegated authority.

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