to receive a NOTICE OF ASSESSMENT OF CIVIL MONEY
PENALTY, FINDINGS OF FACT AND CONCLUSIONS OF LAW, 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 the Bank pursuant to the Flood Disaster
Protection Act ("Flood Act"), as amended, 42 U.S.C. §4012a,
section 8(i)(2) of the Federal Deposit Insurance Act ("FDI Act")
12 U.S.C. §1818(i)(2), 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), section 8(i) of the FDI Act, 12 U.S.C.
§1818(i), and the FDIC Rules of Practice and Procedure, 12 C.F.R.
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 $9,000 due to the Bank's violation of
12 C.F.R. §339 by failing to timely obtain flood hazard
determinations and/or insurance policies on certain loans and by
failing to furnish written notices, including warnings, that the land,
the buildings or the mobile homes are or will be located in a special
flood hazard area as evidenced by the findings of the FDIC's
Compliance Examination of the Bank as of May 17, 2004.
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 accepts the CONSENT AGREEMENT
and issues the following:
ORDER TO PAY
IT IS HEREBY ORDERED that by reason of the violations set forth in
paragraph #3 of the Consent Agreement, a penalty of $9,000 be, and
hereby is assessed against Respondent. The Respondent shall pay the
civil money penalty to the Treasury of the United States.
This Order to Pay shall be effective upon issuance.
Pursuant to delegated authority.
Dated at Washington, D.C., this 23rd day of May, 2005.