[¶12,337] In the Matter of John D. Mayes, Heritage Community Bank, Danville,
Kentucky, Docket No. 04-204b (12-16-04).
Respondent agrees to pay restitution in the amount of $22,141.63.
In the Matter of
JOHN D. MAYES,
individually, and as an institution-affiliated party of
HERITAGE COMMUNITY BANK DANVILLE, KENTUCKY (Insured State Nonmember Bank)
ORDER FOR RESTITUTION
John D. Mayes ("Respondent"), having been advised of the
right to a NOTICE OF CHARGES AND OF HEARING detailing the unsafe or
unsound banking practices alleged to have been committed by the
Respondent, for which an Order for Restitution may be issued, and
having been advised of the right to a hearing on the charges under
section 8(b) of the Federal Deposit Insurance Act ("Act"), 12
U.S.C. §1818(b), and having waived those rights, entered into a
STIPULATION AND CONSENT TO THE ISSUANCE OF AN ORDER FOR RESTITUTION
("CONSENT AGREEMENT"), with counsel for the Federal Deposit
Insurance Corporation ("FDIC"), dated October 1, 2004, whereby,
solely for the purpose of this proceeding and without admitting or
denying any unsafe or unsound practices, the Respondent consented to
the issuance of an ORDER FOR RESTITUTION ("ORDER") by the FDIC.
The FDIC considered the matter and determined that it had reason to
believe that the Respondent had engaged in unsafe or unsound practices,
and that the Respondent was unjustly enriched in connection with such
practices, and that Respondent should be required to make restitution
to the Bank to correct or remedy the conditions resulting from such
practices. The FDIC, therefore, accepted the CONSENT AGREEMENT and
issued the following:
ORDER FOR RESTITUTION
IT IS HEREBY ORDERED, that the Respondent shall pay restitution of
$22,141.63 to Heritage Community Bank, Danville, Kentucky
("Bank"). In addition, the Respondent shall provide the Regional
Director of the Chicago Regional Office of the FDIC with the written
confirmation from the Bank of its receipt of the above-referenced
IT IS FURTHER ORDERED, that the Respondent is prohibited from seeking
or accepting indemnification from the Bank or from any other insured
depository institution for the restitution paid under the terms of this
ORDER or any other expenses, including attorney fees and disbursements
incurred by the Respondent, in connection with this matter.
This ORDER shall be effective upon its issuance by the FDIC.
The provisions of this ORDER shall remain effective and enforceable
except to the extent that, and until such time as, any provisions of
this ORDER shall have been modified, terminated, suspended, or set
aside by the FDIC.