[¶11,962] In the Matter of First Citrus Bank, Tampa, Florida, Docket No.
Respondent agrees to pay civil money penalty assessed by the FDIC in
the amount of $1,200.
In the Matter of
FIRST CITRUS BANK TAMPA, FLORIDA (Insured State Nonmember Bank)
ORDER TO PAY CIVIL MONEY PENALTY
First Citrus Bank, Tampa, Florida ("Bank") has been advised
that a penalty under this subsection may be issued only after notice
and an opportunity for a hearing on the record, pursuant to 42 U.S.C.
§4012a(f)(4), may be 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 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) 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 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 $1,200 related to its failure to secure or maintain
flood insurance on 12 out of 51 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 September 24, 2001.
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 $1,200 is appropriate to
be assessed against the Bank, pursuant to the Flood Act, 42 U.S.C.
§4012a, and Part 339 of the FDIC Rules and Regulations, 12 C.F.R.
ORDER TO PAY
IT IS HEREBY ORDERED that First Citrus Bank, Tampa, Florida be,
and hereby is, assessed a civil money penalty of $1,200, pursuant to
the Flood Act, 42 U.S.C. §4012a, 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 28th day of August, 2002.