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FDIC Enforcement Decisions and Orders

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{{11-30-04 p.C-5072}}

   [11,771] In the Matter of State Central Bank, Keokuk, Iowa, Docket No. 01-016k (3-16-01)

   Respondent agrees to pay civil money penalty assessed by the FDIC in the amount of $3,500.

In the Matter of
Insured State Nonmember Bank


   STATE CENTRAL BANK, KEOKUK, IOWA ("Respondent") and a representative of the Legal Division of the Federal Deposit Insurance Corporation ("FDIC") executed a STIPULATION AND CONSENT TO THE ISSUANCE OF AN ORDER TO PAY ("CONSENT AGREEMENT") dated February 5, 2001, whereby Respondent, solely for the purpose of this proceeding and without admitting or denying any violations of law and/or regulations for which civil money penalties may be assessed, consented and agreed to pay a civil money penalty in the amount specified below to the Treasury of the United States.

   After taking into account the CONSENT AGREEMENT, the appropriateness of the penalty with respect to the financial resources and good faith of Respondent, the gravity of the violations by Respondent, the history of previous violations by Respondent, and such other matters as justice may require, the FDIC accepts the CONSENT AGREEMENT and issues the following:


   IT IS HEREBY ORDERED that, by reason of the violations of the Flood Disaster Protection Act, 42 U.S.C. §§ 4012a and 4104a, and Part 339 of the FDIC Rules and Regulations, 12 C.F.R. Part 339, set forth in paragraph 3 of the CONSENT AGREEMENT, Respondent be, and hereby is, assessed a civil money penalty of $3,500. Respondent shall pay the civil money penalty to the Treasury of the United States.

   This ORDER TO PAY shall be effective upon issuance.

   Pursuant to delegated authority.

   Dated at Washington, D.C., this 16th day of March, 2001.

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Last Updated 2/20/2005

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