Federal Deposit
Insurance Corporation

[¶12,585] In the Matter of First Sentry Bank, Inc., Huntington, West Virginia, Docket No. 06-017k (4-27-06).

Respondent agrees to pay civil money penalty assessed by the FDIC in the amount of $10,875.

In the Matter of
FIRST SENTRY BANK, INC.
HUNTINGTON, WEST VIRGINIA
(Insured State Nonmember Bank)
ORDER TO PAY

FDIC-06-017k

FIRST SENTRY BANK, INC., HUNTINGTON, WEST VIRGINIA ("Bank") has been advised of its 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 OF ASSESSMENT") 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 of 1973 ("Flood Act"), as amended, 42 U.S.C. §4012a and Part 339 of the FDIC's 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) and the FDIC's Rules of Practice and Procedure, 12 C.F.R. Part 308.

Having waived those rights, the Bank entered into a STIPULATION AND CONSENT TO THE ISSUANCE OF AN ORDER TO PAY ("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 $10,875.00 related to (a) its failure to secure or maintain flood insurance,
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or have a sufficient amount of coverage on 41 out of 53 loans secured by improved real estate located in areas determined by the Director of the Federal Emergency Management Agency to have special flood hazards ("special flood hazard areas") and (b) its failure to provide borrowers with notice as to whether flood insurance was available for 37 of the 53 loans secured by property located within the special flood hazard areas.

The FDIC considered the matter and determined it had reason to believe that the Bank has engaged or participated in violations of law or regulations for which a civil money penalty of $10,875.00 is appropriate to be assessed against the Bank, pursuant to the Flood Act, 42 U.S.C. §4012a, and Part 339 of the FDIC's Rules and Regulations, 12 C.F.R. Part 339.

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 FIRST SENTRY BANK, INC., HUNTINGTON, WEST VIRGINIA be, and hereby is, assessed a civil money penalty of $10,875.00, pursuant to the Flood Act, 42 U.S.C. §4012a, and Part 339 of the FDIC's Rules and Regulations, 12 C.F.R. Part 339, the receipt of which is acknowledged.

This ORDER TO PAY shall be effective upon issuance.

Pursuant to delegated authority.

Dated at Washington, D.C., this 27th day of April, 2006.