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[¶11,734] In the Matter of Jeanine West, Fort Gibson State Bank, Fort Gibson,
Oklahoma, Docket No. 00-083e (9-6-00).
Respondent prohibited from participating in the conduct of
affairs of, or exercising voting rights in, any insured institution
without the prior written approval of the FDIC.
[.1] Prohibition, Removal or SuspensionProhibition FromParticipation in
Conduct of Affairs
[.2] Prohibition, Removal or SuspensionProhibition FromVoting Rights,
Exercise of
In the Matter of
JEANINE WEST,
individually, and as an institution-affiliated party of
FORT GIBSON STATE BANK
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FORT GIBSON, OKLAHOMA
(Insured State Nonmember Bank)
ORDER OF PROHIBITION FROM FURTHER PARTICIPATION
DIC-00-083e
Jeanine West ("Respondent") has been advised of the right to
receive a NOTICE OF INTENTION TO PROHIBIT FROM FURTHER PARTICIPATION
("NOTICE") issued by the Federal Deposit Insurance Corporation
("FDIC") detailing the unsafe or unsound banking practices and/or
breaches of fiduciary duty for which an ORDER OF PROHIBITION FROM
FURTHER PARTICIPATION ("ORDER") may issue, and has been further
advised of the right to a hearing on the alleged charges under section
8(e) of the Federal Deposit Insurance Act ("Act"), 12 U.S.C.
§ 1818(e) (1989) and the FDIC's Rules of Practice and Procedure, 12
C.F.R. Part 308. Having waived those rights, the Respondent entered
into a STIPULATION AND CONSENT TO THE ISSUANCE OF AN ORDER OF
PROHIBITION FROM FURTHER PARTICIPATION ("CONSENT AGREEMENT") with
a representative of the Legal Division of the FDIC, whereby solely for
the purpose of this proceeding and without admitting or denying any
unsafe or unsound banking practices and/or any breaches of fiduciary
duty, Respondent consented to the issuance of an ORDER by the FDIC.
The FDIC considered the matter and determined it had reason to believe
that:
(a) The Respondent has engaged or participated in unsafe or
unsound banking practices and/or breaches of fiduciary duty as an
institution-affiliated party of the Fort Gibson State Bank, Fort
Gibson, Oklahoma;
(b) By reason of such practices and/or breaches of fiduciary duty, the
interests of the Bank's depositors have been or could be prejudiced;
and
(c) Such practices and/or breaches of fiduciary duty involve personal
dishonesty on the part of the Respondent or demonstrate the
Respondent's willful and/or continuing disregard for the safety or
soundness of the Bank.
The FDIC further determined that such practices and/or breaches of
fiduciary duty demonstrate the Respondent's unfitness to serve as a
director, officer, person participating in the conduct of the affairs
or as an institution-affiliated party of the Bank, any other insured
depository institution, or any other agency or organization enumerated
in section 8(e)(7)(A) of the Act, 12 U.S.C. § 1818(e)(7)(A).
The FDIC, therefore, accepted the CONSENT AGREEMENT and issued the
following:
ORDER OF PROHIBITION FROM FURTHER PARTICIPATION
1. Jeanine West is hereby, without the prior written approval 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) prohibited from:
[.1] (a) participating in any manner in the conduct of the affairs of any
financial institution or organization enumerated in section 8(e)(7)(A)
of the Act, 12 U.S.C. § 1818(e) (7)(A);
[.2] (b) soliciting, procuring, transferring, attempting to transfer,
voting, or attempting to vote any proxy, consent or authorization with
respect to any voting rights in any financial institution enumerated in
section 8(e)(7)(A) of the Act, 12 U.S.C. § 1818(e)(7)(A);
(c) violating any voting agreement previously approved by the
appropriate Federal banking agency; or
(d) voting for a director, or serving or acting as an
institution-affiliated party.
2. This ORDER will become effective ten (10) days after its
issuance. The provisions of this ORDER will 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.
Pursuant to delegated authority.
Dated this 6th day of September, 2000.