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   [10,417C] In the Matter of Cullen G. Williams, Durham Trust Company, Durham, New Hampshire, Docket No. FDIC-91-325e (1-3-92).

   Respondent removed and prohibited from participating in the conduct of affairs of, or exercising voting rights in, any insured institution without the prior consent of the FDIC.
   [.1] Removal—Service as an Institution-Affiliated Party
   [.2] Prohibition—Participation in Conduct of Affairs
   [.3] Prohibition—Exercise of Voting Rights

In the Matter of
CULLEN G. WILLIAMS
Individually, and as director and
institution-affiliated party of
DURHAM TRUST COMPANY
DURHAM, NEW HAMPSHIRE
(Insured State Nonmember Bank)
ORDER OF REMOVAL FROM
OFFICE AND PROHIBITION FROM
FURTHER PARTICIPATION

FDIC-91-325e

   Cullen G. Williams ("Respondent Williams"), having received a NOTICE OF INTENTION TO REMOVE FROM OFFICE AND PROHIBIT FROM FURTHER PARTICIPATION ("NOTICE") issued by the Federal Deposit Insurance Corporation ("FDIC") on October 9, 1991 under section 8(e)(1) of the Federal Deposit Insurance Act ("Act"), 12 U.S.C. § 1818(e)(1), detailing violations of law and regulations, and/or unsafe or unsound practices, and/or breaches of fiduciary duties alleged to have been committed by Respondent Williams, individually and in his capacity as director and/or institution-affiliated party of Durham Trust Company, Durham, New Hampshire ("Bank"), as a result of which, in the opinion of the FDIC, the Bank has suffered or will probably suffer financial loss or other damage or the Bank's depositors have been or could be prejudiced and/or Respondent Williams has received financial gain or other benefit, and which, in the opinion of the FDIC, involved personal dishonesty on the part of Respondent Williams or demonstrated a willful or continuing disregard by Respondent Williams for the safety and soundness of the Bank, and further evidenced Respondent Williams' unfitness to participate in the conduct of the affairs of the Bank or any other insured depository institution, or agency or organization enumerated in section 8(e)(7) of the Act, 12 U.S.C. § 1818(e)(7), and having been advised of his right to a hearing on the alleged charges pursuant to section 8(e) of the Act, 12 U.S.C. § 1818(e), and having waived that right, entered into a STIPULATION AND CONSENT TO THE ISSUANCE OF AN ORDER OF REMOVAL FROM OFFICE AND PROHIBITION FROM FURTHER PARTICIPATION ("CONSENT AGREEMENT") with a representative of the Legal Division of the FDIC, dated November 7, 1991, whereby solely for the purpose of this proceeding and without admitting or denying any of the alleged violations of law and regulations and/or unsafe or unsound practices, and/or breaches of fiduciary duties, Respondent Williams consented to the issuance of an ORDER OF REMOVAL FROM OFFICE AND PROHIBITION FROM FURTHER PARTICIPATION ("ORDER") by the FDIC.
   The FDIC considered the matter and determined that is had reason to believe that Respondent Williams committed violations of law and regulations and/or engaged in unsafe or unsound practices and/or breaches of fiduciary duties in his capacity as director and/or institution-affiliated party of the Bank, as a result of which the Bank has suffered or will probably suffer financial loss or other damage or the Bank's depositors have been or could be prejudiced, and/or Respondent Williams has received financial gain or other benefit, and which involved personal dishonesty on the part of Respondent Williams or demonstrated a willful or continuing disregard by Respondent Williams for the safety and soundness of the Bank, and further evidenced Respondent Williams' unfitness to participate in the conduct of the affairs of the Bank or any other insured depository institution, or agency or organization enumerated in section 8(e)(7) of the Act, 12 U.S.C. § 1818(e)(7). The FDIC, therefore, accepted the CONSENT AGREEMENT and issued the following:
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ORDER OF REMOVAL FROM OFFICE AND PROHIBITION FROM FURTHER PARTICIPATION

   [.1] 1. Cullen G. Williams is hereby removed from office as a director and institution-affiliated party, as that term is defined in section 3(u) of the Act, 12 U.S.C. § 1813(u), of Durham Trust Company, Durham, New Hampshire.

   [.2] 2. Cullen G. Williams is hereby prohibited from serving or acting as an institution-affiliated party, as that term is defined in section 3(u) of the Act, 12 U.S.C. § 1813(u), of Durham Trust Company, Durham, New Hampshire, without the prior written consent of the FDIC.
   3. Cullen G. Williams is hereby prohibited from serving or acting as an institution-affiliated party, as that term is defined in section 3(u) of the Act, 12 U.S.C. § 1813(u), and/or from participating in any manner in the conduct of the affairs of any of the institutions or agencies listed herein, without the prior written consent of the FDIC and the appropriate Federal financial institutions regulatory agency pursuant to the provisions of section 8(e)(7) of the Act, 12 U.S.C. § 1818(e)(7):

       (i) Any insured depository institution;
       (ii) Any institution treated as an insured bank under sections 8(b)(3) and 8(b)(4) of the Act, 12 U.S.C. §§ 1818(b) (3) and 1818(b)(4), including (1) any bank holding company, (2) any subsidiary of a bank holding company, (3) any foreign bank that maintains a branch or agency in a State, (4) any foreign bank or foreign company controlling a foreign bank that controls a commercial lending company organized under State law, and any company of which any foreign bank or company referred to in (3) and (4) above is a subsidiary, or as a savings association under section 8(b)(8) of the Act, 12 U.S.C. § 1818(b)(8), including any savings and loan holding company, and subsidiary of a savings and loan holding company, any service corporation of a savings association, and any subsidiary of a service corporation of a savings association;
       (iii) Any insured credit union under the Federal Credit Union Act, 12 U.S.C. § 1781 et seq.;
       (iv) Any institution chartered under the Farm Credit Act of 1971, 12 U.S.C. § 2001 et seq.;
       (v) Any appropriate Federal depository institution regulatory agency;
       (vi) The Federal Housing Finance Board and any Federal home loan bank; and
       (vii) the Resolution Trust Corporation.

   [.3] 4. Cullen G. Williams is hereby prohibited from soliciting, procuring, transferring, attempting to transfer, voting, or attempting to vote any proxy, consent, or authorization with respect to any voting rights in any insured depository institution, agency, or organization enumerated in section 8(E)(7)(A) of the Act, 12 U.S.C. § 1818(e) (7)(A), without the prior written consent of the FDIC and the appropriate Federal financial institutions regulatory agency, as that term, defined in section 8(e)(7)(D) of the Act, 12 U.S.C. § 1818(e)(7)(A)(D).
   5. Cullen G. Williams is hereby prohibited from violating any voting agreement previously approved by the appropriate Federal banking agency, without the prior written consent of the FDIC and the appropriate Federal financial institutions regulatory agency, as that term is defined in section 8(e)(7)(D) of the Act, 12 U.S.C. § 1818(e)(7)(A)(D).
   6. Cullen G. Williams is hereby prohibited from voting for a director of any insured depository institution, without the prior written consent of the FDIC and the appropriate Federal financial institutions regulatory agency, as that term is defined in section 8(e)(7)(D) of the Act, 12 U.S.C. § 1818(e) (7)(D).
   This ORDER shall become effective ten (10) days after the issuance by the FDIC.
   The provisions of this ORDER shall remain effective and enforceable except to the extent that, and until such time as, any provision of this ORDER shall have been modified, terminated, suspended, or set aside by the FDIC.
   Dated at Washington, D.C. this 3rd day of January, 1992.
   Pursuant to delegated authority.

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