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[¶11,823] In the Matter of The Exchange Bank, Skiatook, Oklahoma, Docket No.
01-040k (8-13-01)
Respondent agrees to pay civil money penalty assessed by the FDIC in
the amount of $1,500.
In the Matter of
THE EXCHANGE BANK
SKIATOOK, OKLAHOMA
(Insured State Nonmember Bank)
ORDER TO PAY
CIVIL MONEY PENALTY
FDIC-01-040k
The Exchange Bank, Skiatook, Oklahoma ("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
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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.
Having waived those rights, the Bank entered into a STIPULATION AND
CONSENT TO THE ISSUANCE OF AN 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 $1,500.00 related to its
violations of the Flood Act and 12 C.F.R. 339 on 15 loans secured by
improved real estate, 10 of which were located in areas determined by
the Director of the Federal Emergency Agency to have special flood
hazards.
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 $1,500.00 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 The Exchange Bank, Skiatook, Oklahoma
be, and hereby is, assessed a civil money penalty of $1,500.00,
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 13th day of August, 2001.