[¶11,985] In the Matter of Joe Brad Bass, Shelby Savings Bank, SSB, Center,
Texas, Docket No. 01-013k (11-18-02).
Respondent agrees to pay civil money penalty assessed by the FDIC in
the amount of $2,500.
In the Matter of
JOE BRAD BASS,
individually, and as an institution-affiliated party of
SHELBY SAVINGS BANK, SSB CENTER, TEXAS (Insured State Nonmember Bank)
ORDER TO PAY
Joe Brad Bass ("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 April 22, 2002, whereby
Respondent, solely for the purpose of this proceeding and without
admitting or denying any unsafe and unsound practices and breaches of
fiduciary duty for which civil money penalties may be assessed,
consented and agreed to pay civil money penalties in the amount
specified below to the Treasurer of the United States, and did so.
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 violation by Respondent, the history of
previous violations by Respondent, and such other matters as justice
require, the FDIC accepts the CONSENT AGREEMENT and issues the
ORDER TO PAY
IT IS HEREBY ORDERED, that by reason of the unsafe and unsound
practices and breaches of fiduciary duty set forth in paragraph 3 of
the CONSENT AGREEMENT, a penalty of $2,500 be, and hereby is, assessed
against Joe Brad Bass. The Respondent shall pay the civil money penalty
to the Treasurer of the United States.
IT IS FURTHER ORDERED that the Respondent is prohibited from seeking or
accepting indemnification from any insured depository institution for
the civil money penalty assessed and paid in this matter.
This Order to Pay shall be effective upon issuance.
Pursuant to delegated authority.
Dated at Washington, D.C., this 18th day of November, 2002.