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[¶12,099] In the Matter of Todd England, Thomson State Bank, Thomson,
Illinois, Docket No. 02-094e (10-1-03).
Respondent is 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
TODD ENGLAND,
individually, and as an institution-affiliated party of
THOMSON STATE BANK
THOMSON, ILLINOIS
(Insured State Nonmember Bank)
ORDER OF PROHIBITION FROM FURTHER PARTICIPATION
FDIC-02-094e
Todd England("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
charges under section 8(e) of the Federal Deposit Insurance Act
("Act"), 12 U.S.C. §1818(e), and the FDIC 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 of law or regulation, unsafe or unsound
banking practices, and/or breaches 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 of law
or regulations, unsafe or unsound banking practices, and/or breaches of
fiduciary duty as an institution-affiliated party of Thomson State
Bank, Thomson, Illinois ("Bank");
(b) By reason of such violations, practices, and/or breaches of
fiduciary duty, the Respondent received financial gain or other benefit
and/or the interests of the
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Bank's depositors have been or could be
prejudiced; and
(c) Such violations, practices, and/or breaches of fiduciary duty
involved personal dishonesty on the part of the Respondent or
demonstrated the Respondent's willful or continuing disregard for the
safety and 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 issued the
following:
ORDER OF PROHIBITION FROM FURTHER PARTICIPATION
1. Respondent is hereby prohibited, without the prior written
consent 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), from:
[.1] (a) participating in any manner in 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] (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 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 this 1st day of October, 2003.