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[¶12,251] In the Matter of Johnnie Raye Branch, Oklahoma State Bank, Oklahoma
City, Oklahoma, Docket No. 04-137e (8-2-04).
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
JOHNNIE RAYE BRANCH,
individually, and as an institution-affiliated party of
OKLAHOMA STATE BANK
OKLAHOMA CITY, OKLAHOMA
(Insured State Nonmember Bank)
ORDER OF PROHIBITION FROM FURTHER PARTICIPATION
FDIC-04-137e
Johnnie Raye Branch ("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 any violations of law or
regulations, 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 or law or
regulations, 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 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 Oklahoma State
Bank, Oklahoma City, Oklahoma ("Bank");
(b) By reason of such violations, practices and/or breaches, the Bank
suffered or will probably suffer financial loss or other damage, the
interests of the Bank's depositors have been or could be prejudiced
and/or Respondent received financial gain or other benefit; and
(c) Such violations, practices and/or breaches involved personal
dishonesty on the part of the Respondent and/or demonstrated the
Respondent's willful and/or continuing disregard for the safety or
soundness of the Bank.
The FDIC further determined that such violations, practices and/or
breaches 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
accepted the CONSENT AGREEMENT and issued the following:
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ORDER OF PROHIBITION FROM FURTHER PARTICIPATION
1. Johnnie Raye Branch 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] (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 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; and
(d) voting for a director, or serving or acting as an
institution-affiliated party.
2. This ORDER will become effective upon 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 2nd day of August, 2004.