[¶16,065] Docket No. FDIC-94-112b (1-16-96)
In the Matter of
AMERICAN STATE BANK
(Insured State Nonmember Bank)
On August 26, 1994, the Federal Deposit Insurance Corporation ("FDIC") issued an ORDER TO CEASE AND DESIST ("ORDER") to American State Bank, Tulsa, Oklahoma ("Bank") that became effective on September 5, 1994, and remains in full force and effect. The Bank, through its board of directors, entered into a STIPULATION AND CONSENT TO THE ISSUANCE OF A MODIFICATION OF ORDER TO CEASE AND DESIST ("CONSENT AGREEMENT") with counsel for the FDIC dated January 9, 1996, whereby, solely for the purpose of this proceeding and without admitting or denying any charges of unsafe or unsound banking practices and violations of law and/or regulations, the Bank consented to the issuance of a MODIFICATION OF ORDER TO CEASE AND DESIST ("MODIFICATION") by the FDIC. In consideration of the foregoing, the FDIC accepted the CONSENT AGREEMENT and issued the following:
MODIFICATION OF ORDER TO CEASE AND DESIST
1. Paragraphs 3, 4, 5, 6, 7, 8 and 9 of the ORDER are hereby deleted from the same.
2. The provisions of this MODIFICATION shall be binding upon the Bank and all institution-affiliated parties of the bank.
3. Except as specifically modified herein, all of the terms and conditions of the ORDER heretofore issued to the Bank shall remain in full force and effect.
4. The effective date of this MODIFICATION, and the provisions contained herein, shall be the date of issuance by the Regional Manager, FDIC, Dallas Region.
5. The provisions of the MODIFICATION shall remain effective and enforceable except to the extent that, and until such time as, any provisions of said MODIFICATION shall have been modified, terminated, suspended, or set aside by the FDIC.
Pursuant to delegated authority.
Dated at Dallas, Texas, this 16th day of January, 1996.