[¶15,772] Docket No. FDIC-86-112e (12-17-93)
In the Matter of
CLIFFORD A. BRUMBAUGH,
individually, and as Vice President,
and a participant in the conduct of the
THE HEIGHTS BANK
PEORIA HEIGHTS, ILLINOIS
(Insured State Nonmember Bank)
ORDER MODIFYING ORDER
OF REMOVAL FROM OFFICE
AND PROHIBITION FROM
IT IS HEREBY ORDERED that the ORDER OF REMOVAL FROM OFFICE AND PROHIBITION FROM FURTHER PARTICIPATION ("ORDER") issued against Clifford A. Brumbaugh ("Respondent") on May 28, 1987, pursuant to delegated authority, under section 8(e)(2) of the Federal Deposit Insurance Act ("FDI Act"), 12 U.S.C. § 1818(e)(2)(1982) (current version at 12 U.S.C. § 1818(e)(1989)), which, in addition to prohibiting Respondent from participating in the conduct of the affairs of any other bank insured by the FDIC, permitted Respondent some limited employment at The Heights Bank, Peoria, Illinois ("The Heights Bank"), be modified to allow Respondent to be employed at Erie State Bank, Erie, Illinois ("Bank"); provided, however, that Respondent be covered by the Bank's fidelity bond, and that Respondent's employment at the Bank be restricted to the following activities only: engaging or participating in the review and servicing, but not in the collection, of any extension of credit made by the Bank, subject to the direct supervision of the senior executive management of the Bank. Further, the Respondent may participate in the conduct of the affairs of The Heights Bank to the extent originally permitted under the ORDER. All other items of the ORDER shall remain in full force and effect.
Failure to comply with the terms of the ORDER as amended by this ORDER MODIFYING ORDER OF REMOVAL FROM OFFICE AND PROHIBITION FROM FURTHER PARTICIPATION, including engaging in activities beyond and/or in a manner different than those specified above, may subject the Respondent to further sanctions pursuant to the FDI Act, 12 U.S.C. §§ 1811-1831t.
This ORDER MODIFYING ORDER OF REMOVAL FROM OFFICE AND PROHIBITION FROM FURTHER PARTICIPATION shall be effective upon its issuance.
Dated a Washington, D.C., this 17th day of December, 1993.
Pursuant to delegated authority.