In the Matter of THE HESSTON STATE BANK HESSTON, KANSAS
(Insured State Nonmember Insured Bank) MODIFICATION OF ORDER TO CEASE AND DESIST
Paragraph 3(g) is added and incorporated into the ORDER TO CEASE AND DESIST ("ORDER") issued by the Federal Deposit Insurance Corporation ("FDIC") to The Hesston State Bank, Hesston, Kansas ("Bank") on October 5, 1988, and hereby provides as follows:
3. * * *
(g) The requirements of paragraphs 3(a) through (f), inclusive, above, shall be and hereby are suspended as long as the Regional Director is satisfied that the Bank is in substantial compliance with its capital forbearance plan, or any modification thereto, as approved by the Regional Director. Compliance with the capital forbearance plan will be monitored through the submission of semiannual progress reports, review of Reports of Condition, and Reports of Examination. In the case of noncompliance, written notice will be provided by the Regional Director to the Bank that the Bank's participation in the capital forbearance program has been terminated. Upon receipt of such notification, the requirements of paragraphs 3(a) through (f), inclusive, of the ORDER shall be immediately reinstated and effective.
The provisions of the ORDER, including this MODIFICATION OF ORDER TO CEASE AND DESIST, continue to be binding upon the Bank, its directors, officers, employees, agents, successors, assigns, and other persons participating in the conduct of the affairs of the Bank.
The provisions of the ORDER, as modified by this MODIFICATION OF ORDER TO CEASE AND DESIST, shall remain effective and enforceable except to the extent that, and until such time as, any provisions of the ORDER, as modified by this MODIFICATION OF ORDER TO CEASE AND DESIST, shall have been modified, terminated, suspended, or set aside by the FDIC.
Pursuant to delegated authority.
Date of Issuance: Nov. 20, 1989