Each depositor insured to at least $250,000 per insured bank



Home > Regulation & Examinations > Bank Examinations > FDIC Enforcement Decisions and Orders




FDIC Enforcement Decisions and Orders

ED&O Home | Search Form | Text Search | ED&O Help


{{4-30-95 p.TC-306}}
   [15,970] Docket No. FDIC-93-257e (2-22-95))

In the Matter of
PAUL E. UTTERBACK,
individually, and as an institution-
affiliated party of
THE BANK OF ALTON
ALTON, ILLINOIS
(Insured State Nonmember Bank)
ORDER MODIFYING ORDER OF
REMOVAL FROM OFFICE AND
PROHIBITION FROM FURTHER
PARTICIPATION

   IT IS HEREBY ORDERED that the Order of Removal from Office and Prohibition from Further Participation ("Order") issued against Paul E. Utterback ("Respondent") on November 21, 1994, pursuant to delegated authority, under section 8(e) of the Federal Deposit Insurance Act, 12 U.S.C. § 1818(e), be modified to allow the Respondent to transfer his 22,039 shares of stock in Regional Bancshares, Inc. (representing 87 percent of total outstanding), the one bank holding company for The Bank of Alton, Alton, Illinois, to a voting trust with Chairman of the Board Billy R. Summers to act as trustee. Furthermore, the Order is modified to allow Respondent to transfer trustee responsibilities of 1,334 shares of Regional Bancshares, Inc. (representing five percent of total outstanding) held by the Mary G. Utterback Trust to successor trustee Mark P. Utterback. All other provisions of the Order will remain in full force and effect.
   Dated: February 22, 1995.
   Pursuant to delegated authority.

ED&O Home | Search Form | Text Search | ED&O Help

Last Updated 6/6/2003 legal@fdic.gov