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FDIC ISSUES REMOVAL AND PROHIBITION ORDER AND
CIVIL MONEY PENALTY AGAINST FORMER TEXAS BANKER

FOR IMMEDIATE RELEASE
PR-38-2003 (4-28-2003)
Media Contact:
Frank Gresock (202) 898-6634

The Federal Deposit Insurance Corporation (FDIC) has issued a removal and prohibition order and imposed a civil money penalty against Mary Christine Gonzales.

Ms. Gonzales, a former vice president of Bridge City State Bank, Bridge City, Texas, had responsibility for all aspects of the bank's credit card program, including the approval of credit and the limits on credit cards.

The FDIC's actions are based on allegations that, between July 1999 and November 2001, Ms. Gonzales made unauthorized loan and credit card advances in violation of bank policies; concealed delinquent loans from the bank's board of directors; issued herself a credit card and increased the credit limit on an existing bank credit card without the necessary approval and in violation of Regulation O; and concealed the failure on her part to pay delinquent payroll taxes. In agreeing to the orders, Ms. Gonzales neither admitted nor denied having engaged in the alleged activities.

Under the terms of the orders, she must pay a civil money penalty in the amount of $5,000. In addition, she is prohibited from further participation in the banking industry without the approval of the FDIC. Ms. Gonzales joined Bridge City State Bank in July 1973 where she worked until resigning her duties in November 2001.

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The orders are attached

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 9,354 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. The FDIC receives no federal tax dollars - insured financial institutions fund its operations.

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 04/28/2003 communications@fdic.gov