[¶12,590] In the Matter of Benny Fesmire, Friendship Bank, Friendship, Tennessee,
Docket No. 05-036k (5-12-06).
Respondent agrees to pay civil money penalty assessed by the FDIC in
the amount of $30,000.
In the Matter of
BENNY FESMIRE, individually,
and as an institution-affiliated party of
FRIENDSHIP BANK FRIENDSHIP, TENNESSEE formerly an Insured State Nonmember Bank, now a branch of Clayton Bank and Trust
Henderson, Tennessee ORDER TO PAY
Benny Fesmire, ("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 of law or regulations, unsafe
or unsound practices, and breaches of fiduciary duties for which a
civil money penalty may be assessed against Respondent, and has been
further advised of the right to a hearing on the charges under section
8(i) of the Federal Deposit Insurance Act, 12 U.S.C. §1818(i), and
the FDIC's Rules of Practice and Procedure, 12 C.F.R. §308.
Having waived those rights, Respondent 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 of law or regulations, unsafe or unsound
practices, or breaches of fiduciary duty for which civil money
penalties may be assessed, Respondent consented and agreed to pay a
civil money penalty in the amount of $30,000.
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 Respondent's conduct, the history of
previous conduct by Respondent, and such other matters as justice may
require, the FDIC accepts the CONSENT AGREEMENT and issues the
ORDER TO PAY CIVIL MONEY PENALTY
IT IS HEREBY ORDERED that a civil money penalty of $30,000 be, and
hereby is, assessed against Benny Fesmire pursuant to section 8(i)(2)
of the Act, 12 U.S.C. §1818(i)(2). 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.