[¶12,466] In the Matter of Clyde M. Tewell, Smithfield State Bank of Smithfield,
Pa., Smithfield, Pennsylvania, Docket No. 05-070k (9-30-05).
Respondent agrees to pay civil money penalty assessed by the FDIC in
the amount of $160,000.
In the Matter of
CLYDE M. TEWELL,
individually, and as an institution-affiliated party of
SMITHFIELD STATE BANK OF SMITHFIELD, PA. SMITHFIELD, PENNSYLVANIA (Insured State Nonmember Bank)
ORDER TO PAY
Clyde M. Tewell ("Respondent") and a representative of the
Legal Division of the Federal Deposit Insurance Corporation
("FDIC") executed a STIPULATION AND CONSENT TO THE ISSUANCE OF AN
ORDER TO PAY ("CONSENT AGREEMENT") dated August 2, 2005, whereby
Respondent, solely for the purpose of this proceeding and without
admitting or denying any unsafe or unsound banking practice and/or
breach of fiduciary duty for which civil money penalties may be
assessed, consented and agreed to pay civil money penalties in the
amount specified below to the Treasury of the United States.
After taking into account the CONSENT AGREEMENT, the appropriateness of
the penalty with respect to the financial resources and good faith of
Respondent, the gravity of the violation by Respondent, the history of
previous violation by Respondent, and such other matters as justice may
require, the FDIC accepts the CONSENT AGREEMENT and issues the
ORDER TO PAY
IT IS HEREBY ORDERED, that by reason of the unsafe or
unsound banking practices and/or breaches of fiduciary duty set forth
in paragraph 3 of the CONSENT AGREEMENT, a penalty of ONE HUNDRED SIXTY
THOUSAND DOLLARS ($160,000) be, and hereby is, assessed against Clyde
M. Tewell. The Respondent shall pay the civil money penalty to the
Treasury of the United States.
IT IS FURTHER ORDERED that the Respondent is prohibited from seeking or
accepting indemnification from any insured depository institution for
the civil money penalty assessed and paid in this matter.
This Order to Pay shall be effective upon issuance.
Pursuant to delegated authority.
Dated at Washington, D.C., this 30th day of September, 2005.