{{11-30-01 p.C-5192}}
[¶11,832] In the Matter of Skylands Community Bank, Hackettstown, New Jersey,
Docket No. 01-081k (8-31-01)
Respondent agrees to pay civil money penalty assessed by the FDIC in
the amount of $2,000.
In the Matter of
SKYLANDS COMMUNITY BANK
HACKETTSTOWN, NEW JERSEY
(Insured State Nonmember Bank)
ORDER TO PAY
CIVIL MONEY PENALTY
FDIC-01-081k
SKYLANDS COMMUNITY BANK, HACKETTSTOWN, NEW JERSEY ("Bank")
has been advised of the right to receive a NOTICE OF ASSESSMENT OF
CIVIL MONEY PENALTY, FINDINGS OF FACT AND CONCLUSIONS OF LAW, ORDER TO
PAY, 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 Bank pursuant
to section 8(i)(2) of the Federal Deposit Insurance Act ("Act"),
12 U.S.C. § 1818(i)(2), section 305 of the Home Mortgage Disclosure
Act ("HMDA"), 12 U.S.C. § 2804, and section 203.6 of Regulation
C of the Board of Governors of the Federal Reserve System, 12 C.F.R.
§ 203.6, and has been further advised of the right to a hearing on
the alleged charges under section 8(i) of the Act, 12 U.S.C.
§ 1818(i), and the FDIC's Rules of Practice and Procedure, 12 C.F.R.
Part 308. Having waived those rights, the Bank entered into a
STIPULATION AND CONSENT 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 $2,000 related to its
inaccurate submission of the application and loan data for calendar
years 1998 and 1999 as required by HMDA.
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 $2,000 is appropriate to
be assessed against the Bank pursuant to section 8(i)(2) of the Act, 12
U.S.C. § 1818(i)(2).
After taking into account said AGREEMENT, the appropriateness of the
penalty with respect to the financial resources and good faith of the
Bank, the gravity of the violations by the Bank, the history of
previous violations by the Bank, and such other matters as justice may
require, the FDIC accepts the AGREEMENT and issues the following:
ORDER TO PAY
CIVIL MONEY PENALTY
IT IS HEREBY ORDERED that Skylands Community Bank be, and hereby
is, assessed a civil money penalty of $2,000 pursuant to section
8(i)(2) of the Act, 12 U.S.C. § 1818(i)(2), the receipt of which
is hereby acknowledged.
Pursuant to delegated authority.
Dated at Washington, D.C., this 31st day of August, 2001.