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FDIC MAKES PUBLIC JULY 1998 ENFORCEMENT ACTIONS;
NO ADMINISTRATIVE HEARINGS SCHEDULED FOR SEPTEMBER
FOR IMMEDIATE RELEASE
PR-59-98 (8-31-98)
Media Contact:
DaSvid Barr (202) 898-6992

The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in July. No administrative hearings are scheduled for September.

The FDIC processed a total of 12 orders in July. These included one cease-and-desist order, three removal and prohibition orders, three terminations of cease-and-desist orders, one adjudicated decision and four call report penalties.

Copies of the orders referred to above can be obtained from or inspected at the FDIC's Public Information Center, 801 17th Street, N.W., Room 100, Washington, D.C. (telephone (703) 562-2200 or 800-276-6003). A list of orders made public today follows.

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FINAL ORDERS ISSUED PURSUANT TO SECTION 8(b), 12 U.S.C. 1818(b)
(Cease-and-Desist)

Victory State Bank, Columbia, SC; FDIC-98-042b; Issued 7/8/98

FINAL ORDERS ISSUED PURSUANT TO SECTION 8(e), 12 U.S.C. 1818(e)
(Removal and Prohibition Orders)

MidCounty Bank and Trust Company, Norwood, MA; FDIC-97-050e; against John Nyhan; Issued 7/24/98

Midland Bank, Lee's Summit, MO (formerly located in Kansas City, MO); FDIC-98-011e; against Jeffrey R. Wilson; Issued 7/14/98

Bank and Trust Company of Old York, Willow Grove, PA; FDIC-98-007e; against Lowen K. Hankin; Issued 7/10/98

TERMINATIONS OF CEASE-AND-DESIST ORDERS

California Security Bank, San Jose, CA (merged into and now known as Summit National Bank, San Jose, CA); FDIC-94-186b; Issued 7/21/98

Jefferson State Bank, Chicago, IL (merged into Parkway Bank, Chicago, IL); against Bernard Feinberg; Issued 7/7/98

Kent Bank, Kent, IL; FDIC-97-33b; Issued 7/31/98

ADJUDICATED DECISION

Security State Bank, Fort Scott, KS; FDIC-89-105e; decision and order denying application to modify order of removal from office and prohibition from further participation against Steven N. Buerge; Issued 7/14/98

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FINAL ORDERS ISSUED PURSUANT TO SECTION 7(a), 12 U.S.C. 1817(a)
(Call Report Penalties)

The Citizens Bank of Valley Head, Valley Head, AL; CR-96-9602-39; stipulation and consent order to pay $917; Issued 7/2/98

Buffalo Island Bank, Leachville, AR; CR-97-9702-023; stipulation and consent order to pay $900; Issued 7/17/98

First Coast Community Bank, Fernandina Beach, FL; CR-97-9702-024; stipulation and consent order to pay $3,600; Issued 7/17/98

The Citizens Bank of Pilot Grove, Pilot Grove, MO; CR-97-9702-027; stipulation and consent order to pay $600; Issued 7/17/98

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Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 10,779 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed.

FDIC press releases and other information are available on the Internet via the World Wide Web at www.fdic.gov and may also be obtained through the FDIC's Public Information Center (800-276-6003 or (703) 562-2200).

Last Updated 07/14/1999 communications@fdic.gov