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[¶12,001] In the Matter of Larry R. Eberlin, Bank of Calhoun County, Hardin,
Illinois, Docket No. 01-180e (12-17-02).
Respondent prohibited from participating in the conduct of affairs of,
or exercising voting rights in, any insured institution without the
prior written approval of the FDIC.
[.1] Prohibition, Removal or SuspensionProhibition FromParticipation in
Conduct of Affairs
[.2] Prohibition, Removal or SuspensionProhibition FromVoting Rights,
Exercise of
In the Matter of
LARRY R. EBERLIN,
individually, and as an institution-affiliated party of
BANK OF CALHOUN COUNTY
HARDIN, ILLINOIS
(Insured State Nonmember Bank)
FDIC-01-180e
Larry R. Eberlin ("Respondent") has been advised of the
right to receive a NOTICE OF INTENTION TO PROHIBIT FROM FURTHER
PARTICIPATION ("NOTICE") issued by the Federal Deposit Insurance
Corporation ("FDIC") detailing the violations of law or
regulation, unsafe or unsound banking practices, and/or breaches of
fiduciary duty for which an ORDER OF PROHIBITION FROM FURTHER
PARTICIPATION ("ORDER") may issue, and has been further advised
of the right to a hearing on the alleged charges under section 8(e) of
the Federal Deposit Insurance Act ("Act"), 12 U.S.C. §1818(e),
and the FDIC's Rules of Practice and Procedure, 12 C.F.R. Part 308.
Having waived those rights, the Respondent entered into a STIPULATION
AND CONSENT TO THE ISSUANCE OF AN ORDER OF PROHIBITION FROM FURTHER
PARTICIPATION ("CONSENT 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, unsafe or
unsound banking practice and/or breach of fiduciary duty, Respondent
consented to the issuance of an ORDER by the FDIC.
The FDIC considered the matter and determined it had reason to believe
that:
(a) The Respondent has engaged or participated in violations,
unsafe or unsound banking practices and/or breaches of fiduciary duty
as an institution-affiliated party of Bank of Calhoun County, Hardin,
Illinois ("Bank");
(b) By reason of such violations, unsafe or unsound banking practices
and/or breaches of fiduciary duty, the Bank has suffered or will
probably suffer financial loss or other damage, and/or Respondent
received financial gain or other benefit and/or the interests of the
Bank's depositors have been or could be prejudiced; and
(c) Such violations, practices, and/or breaches of fiduciary duty
involve personal dishonesty on the part of the Respondent or
demonstrate the Respondent's willful or continuing disregard for the
safety or soundness of the Bank.
The FDIC further determined that such violations, practices,
and/or breaches of fiduciary duty demonstrate the Respondent's
unfitness to serve as a director, officer, person participating in the
conduct of the affairs or as an institution-affiliated party of the
Bank, any other insured depository institution, or any other agency or
organization enumerated in section 8(e)(7)(A) of the Act, 12 U.S.C.
§1818(e)(7)(A).
The FDIC, therefore, accepted the CONSENT AGREEMENT and issues the
following:
ORDER OF PROHIBITION FROM FURTHER PARTICIPATION
1. Respondent is hereby, without the prior written approval of the
FDIC and the appropriate Federal financial institutions regulatory
agency, as that term is defined in section 8(e)(7)(D) of the Act, 12
U.S.C. §1818(e)(7)(D), prohibited from:
[.1]1. (a) participating in any manner in
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the conduct of the affairs of any
financial institution or organization enumerated in section 8(e)(7)(A)
of the Act, 12 U.S.C. §1818(e)(7)(A);
[.2]2. (b) soliciting, procuring, transferring, attempting to transfer,
voting, or attempting to vote any proxy, consent or authorization with
respect to any voting rights in any financial institution enumerated in
section 8(e)(7)(A) of the Act, 12 U.S.C. §1818(e)(7)(A);
(c) violating any voting agreement previously approved by the
appropriate Federal banking agency; or
(d) voting for a director, or serving or acting as an
institution-affiliated party.
2. This ORDER will become effective ten (10) days after its
issuance. The provisions of this ORDER will remain effective and
enforceable except to the extent that, and until such time as, any
provision of this ORDER shall have been modified, terminated,
suspended, or set aside by the FDIC.
Pursuant to delegated authority.
Dated at Washington, D.C., this 17th day of December, 2002.