FDIC MAKES PUBLIC JULY 1997 ENFORCEMENT ACTIONS;
TWO ADMINISTRATIVE HEARINGS SET FOR SEPTEMBER
FOR IMMEDIATE RELEASE PR-65-97 (9-3-97)
Media Contact: David Barr (202) 898-6992
The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in July. Two administrative hearings are scheduled during September.
The FDIC processed a total of 14 orders in July. These included two cease-and-desist orders, three call report penalties, two removal and prohibition orders, one civil money penalty, one voluntary termination of deposit insurance, four terminations of cease-and-desist orders and one adjudicated decision.
Copies of the orders referred to above can be obtained from or inspected at the FDIC's Public Information Center, 801 17th Street, N.W., Room 100, Washington, D.C. (telephone (703) 562-2200 or 800-276-6003, or fax (703) 562-2296). A list or orders made public today and details about the September hearings follow.
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FINAL ORDERS ISSUED PURSUANT TO SECTION 8(b), 12 U.S.C. § 1818(b)
Leicester Savings Bank, Leicester, MA; FDIC-97-027b; Issued 7/10/97
Burke & Herbert Bank & Trust Company, Alexandria, VA; FDIC-97-048b; against C.S. Taylor Burke, III; Issued 7/1/97
FINAL ORDERS ISSUED PURSUANT TO SECTION 7(a), 12 U.S.C. § 1817(a)
(Call Report Penalties)
Bank of Okolona, Okolona, MS; CR-96-9602-051; Issued 7/30/97
Farmers & Merchants Bank, Crescent, OK; CR-96-9602-057; Issued 7/9/97
Texas Bank and Trust of Brownsville, Brownsville, TX; CR-96-9602-058; Issued 7/30/97
FINAL ORDERS ISSUED PURSUANT TO SECTION 8(e), 12 U.S.C. § 1818(e)
(Removal and Prohibition Orders)
The Sumitomo Bank of California, San Francisco, CA; FDIC-96-120e; against Norman Lee; Issued 7/17/97
Community Bank of Greater Peoria, East Peoria, IL, (now known as Magna Bank, N.A., Brentwood, MS); FDIC-95-023e; against Gary E. Schmidt; Issued 7/30/97
FINAL ORDERS ISSUED PURSUANT TO SECTION 8(i), 12 U.S.C. § 1818(i)
(Civil Money Penalty)
Banterra Bank of Gallatin County, Ridgeway, IL (now known as Banterra Bank Group, Eldorado, IL); FDIC-96-141k; against Everett D. Knight, Thomas J. Raben and Herbert V. Cowsert; Issued 7/25/97
FINAL ORDERS ISSUED PURSUANT TO SECTION 8(q), 12 U.S.C. § 1818(q)
(Voluntary Termination of Insurance)
Bank Hapoalim Americas Tower Branch, New York, NY; FDIC-97-042q; Issued 7/25/97
Haymarket Bank, Boston, MA; FDIC-93-162b; Issued 7/2/97
Somerset Savings Bank, Somerville, MA; FDIC-91-079b; Issued 7/25/97
Citizens State Bank, Roma, TX; FDIC-96-137b; Issued 7/8/97
First Central Bank, Hartford, CT; FDIC-92-300e; against Allen Hutensky; Issued 7/8/97
ADMINISTRATIVE HEARINGS SCHEDULED FOR SEPTEMBER
Nortex State Bank, Milford, TX; In the Matter of David S. Hirsch; FDIC-96-73e; Section 8(e) Proceeding
Dallas Regional Office
First Commerce Bank, Corpus Christi, TX; In the Matter of Benny Dominguez; FDIC-96-050g; Section 8(g) Proceeding
September 29, 1997
Corpus Christi, Texas
Dallas Regional Office
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Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 11,337 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed.
FDIC press releases and other information are available on the Internet via the World Wide Web at www.fdic.gov and
may also be obtained through the FDIC's Public Information Center (800-276-6003 or (703) 562-2200).