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[¶12,260] In the Matter of First Community Bank of Palm Beach County, Pahokee,
Florida, Docket No. 04-152k (8-18-04).
Respondent agrees to pay civil money penalty assessed by the FDIC in
the amount of $2,000.
In the Matter of
FIRST COMMUNITY BANK OF PALM BEACH COUNTY
PAHOKEE, FLORIDA
(Insured State Nonmember Bank)
ORDER TO PAY A CIVIL MONEY PENALTY
FDIC-04-152k
FIRST COMMUNITY BANK OF PALM BEACH COUNTY, PAHOKEE, FLORIDA
("Respondent") has been advised of the right to receive a NOTICE
OF ASSESSMENT OF CIVIL MONEY PENALTY, FINDINGS OF FACT AND CONCLUSIONS
OF LAW, ORDER TO PAY, AND NOTICE OF HEARING ("NOTICE") issued by
the Federal Deposit Insurance Corporation ("FDIC") detailing the
violations for which a civil money penalty may be assessed against
Respondent pursuant to section 8(i)(2) of the Federal Deposit Insurance
Act ("Act"), 12 U.S.C. §1818(i)(2), section 305 of the Home
Mortgage Disclosure Act ("HMDA"), 12 U.S.C. §2804, and section
203.6 of Regulation C of the Board of Governors of the Federal Reserve
System, 12 C.F.R. §203.6, and has been further advised of the right
to a hearing on the alleged charges under section 8(i) of the Act, 12
U.S.C. §1818(i), 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 TO PAY CIVIL
MONEY PENALTY ("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, Respondent consented
and agreed to pay a civil money penalty in the amount of two thousand
dollars ($2,000.00), related to its inaccurate submission of the
application and loan data for calendar year 2003 as required by HMDA.
The FDIC considered the matter and determined it had reason to believe
that the Respondent has engaged or participated in violations of law or
regulation for which a civil money penalty of two thousand dollars
($2,000.00) is appropriate to be assessed against the Respondent
pursuant to section 8(i)(2) of the Act, 12 U.S.C. §1818(i)(2).
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After taking into account the CONSENT AGREEMENT, the appropriateness of
the penalty with respect to the financial resources and good faith of
the Respondent, the gravity of the violations by the Respondent, the
history of previous violations by the Respondent, and such other
matters as justice may require, the FDIC accepted the AGREEMENT and
issued the following:
ORDER TO PAY CIVIL MONEY PENALTY
IT IS HEREBY ORDERED that Respondent be, and hereby is, assessed a
civil money penalty of $2,000.00 pursuant to section 8(i)(2) of the
Act, 12 U.S.C. §1818(i)(2), the receipt of which is hereby
acknowledged.
Pursuant to delegated authority.
Dated this 18th day of August, 2004.