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[¶11,769] In the Matter of First State Bank, New Braunfels, Texas, Docket No.
00-124k (3-8-01)
Respondent agrees to pay civil money penalty assessed by the FDIC in
the amount of $1,600.
In the Matter of
FIRST STATE BANK
NEW BRAUNFELS, TEXAS
Insured State Nonmember Bank
ORDER TO PAY CIVIL MONEY PENALTY
FDIC-00-124k
First State Bank, New Braunfels, Texas ("Bank") has been
advised of the right to receive a NOTICE OF ASSESSMENT OF CIVIL MONEY
PENALTY, FINDINGS OF FACT AND CONCLUSIONS OF LAW, AND NOTICE OF HEARING
("NOTICE") issued by the Federal Deposit Insurance Corporation
("FDIC") detailing the violations for which a civil money penalty
may be assessed against the Bank pursuant to the Flood Disaster
Protection Act ("Flood Act"), as amended, 42 U.S.C. §4012a,
section 8(i)(2) of the Federal Deposit Insurance Act ("FDI Act")
12 U.S.C. §1818(i)(2), and Part 339 of the FDIC Rules and
Regulations, 12 C.F.R. Part 339, and has been further advised of the
right to a hearing on the alleged charges under the Flood Act, 42
U.S.C. §4012a(f), section 8(i) of the FDI Act, 12 U.S.C.
§1818(i), and the FDIC Rules of Practice and Procedure, 12 C.F.R.
Part 308.
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Having waived those rights, the Bank entered into a STIPULATION
AND CONSENT TO ORDER TO PAY CIVIL MONEY PENALTY ("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
violations, the Bank consented and agreed to pay a civil money penalty
in the amount of $1,600.00 related to its failure to secure or maintain
flood insurance on 6 out of 11 loans secured by improved real estate
located in areas determined by the Director of the Federal Emergency
Management Agency to have special flood hazards and originated since
the examination on November 24, 1997.
The FDIC considered the matter and determined it had reason to believe
that the Bank has engaged or participated in violations of law or
regulations for which a civil money penalty of $1,600.00 is appropriate
to be assessed against the Bank, pursuant to the Flood Act, 42 U.S.C.
§4012a, section 8(i)(2) of the FDI Act, 12 U.S.C. §1818(i)(2),
and Part 339 of the FDIC Rules and Regulations, 12 C.F.R. Part 339.
ORDER TO PAY
IT IS HEREBY ORDERED that First State Bank, New Braunfels, Texas
be, and hereby is, assessed a civil money penalty of $1,600.00,
pursuant to the Flood Act, 42 U.S.C. §4012a, section 8(i)(2) of the
FDI Act, 12 U.S.C. §1818(i)(2), and Part 339 of the FDIC Rules and
Regulations, 12 C.F.R. Part 339, the receipt of which is acknowledged.
This Order to Pay shall be effective upon issuance.
Pursuant to delegated authority.
Dated at Washington, D.C., this 8th day of March, 2001.