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FDIC ISSUES ENFORCEMENT ACTIONS AGAINST ILLINOIS BANKERS AND DIRECTORS

FOR IMMEDIATE RELEASE
PR-80-2003 (8-28-2003)
Media Contact:
David Barr (202) 898-6992

The Federal Deposit Insurance Corporation (FDIC) has imposed civil money penalties on four current and former officers and directors of Savanna-Thomson State Bank, Thomson, Illinois. Consent Orders to pay Civil Money Penalties of $5,000 each were issued against current bank board member Cheryl Parker and former bank board member John Brigham, while current directors Robert Froehlich and Michael Grothusen were ordered to pay penalties of $2,000 each. They consented to the orders without admitting or denying culpability. The FDIC alleges that the four engaged in risky lending practices.

The order is attached.
FDIC-02-154k

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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 9,314 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.

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Last Updated 06/12/2007 communications@fdic.gov