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FDIC MAKES PUBLIC JULY 1999 ENFORCEMENT ACTIONS;
NO ADMINISTRATIVE HEARINGS SCHEDULED FOR SEPTEMBER

FOR IMMEDIATE RELEASE
PR-43-99 (8-20-99)
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. No administrative hearings are scheduled for September.

The FDIC processed a total of 13 final orders in July. These included one cease-and-desist order, one removal and prohibition order, three civil money penalties, one voluntary termination of insurance, six 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., Washington, D.C. 20434 (telephone (703) 562-2200 or 800-276-6003). A list of the orders made public today follows.

* * * * * * * * *

FINAL ORDERS ISSUED PURSUANT TO SECTION 8(b), 12 U.S.C. 1818(b)
(Cease-and-Desist Order)

Northern Bank of Commerce, Portland, OR; FDIC-99-087b; Issued 7/21/99

FINAL ORDERS ISSUED PURSUANT TO SECTION 8(e), 12 U.S.C. 1818(e)
(Removal and Prohibition Order)

Savings Institute, Willimantic, CT; FDIC-99-063e; against Enrico J. Mendes; Issued 7/2/99

FINAL ORDERS ISSUED PURSUANT TO SECTION 8(i), 12 U.S.C. 1818(i)
(Civil Money Penalties)

Savings Institute, Willimantic, CT; FDIC-99-071k; against Enrico J. Mendes; Issued 7/2/99

Farmers and Merchants Bank of Wright City, Wright City, MO; FDIC-99-017k; against Corwin S. Ruge, Jr.; Issued 7/28/99

Farmers and Merchants Bank of Wright City, Wright City, MO; FDIC-99-018k; Issued 7/28/99

FINAL ORDERS ISSUED PURSUANT TO SECTION 8(q), 12 U.S.C. 1818(q)
(Voluntary Termination of Insurance)

American General Financial Center, Midvale, UT; FDIC-99-073q; Issued 7/23/99

TERMINATIONS OF CEASE-AND-DESIST ORDERS

Royal Thrift and Loan, Los Angeles, CA; FDIC-97-59b; Issued 7/9/99

Royal Thrift and Loan, Los Angeles, CA; FDIC-97-123b; Issued 7/9/99

DuPage Valley State Bank, Woodridge, IL (merged into Bridgeview Bank and Trust Company, Bridgeview, IL); FDIC-96-58b; against David A. Gimbel, Thomas E. Lyons, Raymond P. O'Machel and George A. Skweres; Issued 7/13/99

DuPage Valley State Bank, Woodridge, IL (merged into Bridgeview Bank and Trust Company, Bridgeview, IL); FDIC-96-77b; against David L. Audino; Issued 7/13/99

Mercantile Bank and Trust Company, Boston, MA; FDIC-93-212b; Issued 7/30/99

Bank of Hydro, Hydro, OK; FDIC-90-48b; against Richard Dibler; Issued 7/21/99

ADJUDICATED DECISION

First Guaranty Bank, Hammond, LA; FDIC-95-65e; Order on Motion for Stay Pending Review; Issued 7/8/99

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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 10,390 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).

 

Last Updated 07/19/1999 communications@fdic.gov