[¶12,190] In the Matter of Planters & Citizens Bank, Camilla, Georgia, Docket No.
Respondent agrees to pay civil money penalty assessed by the FDIC in
the amount of $1,750.
In the Matter of
PLANTERS & CITIZENS BANK CAMILLA, GEORGIA (Insured State Nonmember Bank)
ORDER TO PAY
PLANTERS & CITIZENS BANK, CAMILLA, GEORGIA ("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 THE ISSUANCE OF AN ORDER TO PAY ("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, the Bank consented and agreed to pay a civil
money penalty in the amount of $1,750 related to (a) its failure to
secure or maintain flood insurance on 9 out of 11 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 15, 2003, and/or (b) its
failure to provide timely written notification to the borrower that the
property was located in a flood hazard area for 8 or the 11 loans.
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 $1,750 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.
The FDIC therefore accepts the CONSENT AGREEMENT and issues the
ORDER TO PAY
IT IS HEREBY ORDERED that PLANTERS & CITIZENS BANK, CAMILLA,
GEORGIA be, and hereby is, assessed a civil money penalty of $1,750,
pursuant to the Flood Act, 42 U.S.C. §4012a, and Part 339
of the FDIC Rules and Regulations, 12 C.F.R. 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 21st day of April, 2004.