FDIC MAKES PUBLIC OCTOBER 1999 ENFORCEMENT ACTIONS;
NO ADMINISTRATIVE HEARINGS SCHEDULED FOR DECEMBER
FOR IMMEDIATE RELEASE PR-72-99 (11-22-99)
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 October. No administrative hearings are scheduled for December.
The FDIC processed a total of eight final orders in October. These included three cease-and-desist orders, two removal and prohibition orders, one modification of safety and soundness order, one termination of cease-and-desist order and one Call Report penalty.
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.
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FINAL ORDERS ISSUED PURSUANT TO SECTION 8(b), 12 U.S.C. § 1818(b)
South Adams Savings Bank, Adams, MA; FDIC-99-080b; against Michael P. Kwasniowski, Jr.; Issued 10/15/99
First Farmers & Merchants State Bank of Grand Meadow, Grand Meadow, MN; FDIC-99-001b; Issued 10/28/99
Peoples Bank and Trust Company, Ryan, OK; FDIC-99-082b; OSBD-99-C&D-3; Issued 10/12/99
FINAL ORDERS ISSUED PURSUANT TO SECTION 8(e), 12 U.S.C. § 1818(e)
(Removal and Prohibition Orders)
South Adams Savings Bank, Adams, MA; FDIC-99-053e; against Michael P. Kwasniowski, Jr.; Issued 10/15/99
Commercial State Bank, Palmer, TX; FDIC-99-033e; against Janet Herrin; Issued 10/14/99
First Bank of Jacksonville, Jacksonville, FL; FDIC-99-077ss; Denial of Request for Recission or Modification of Safety and Soundness Order; Issued 10/21/99
TERMINATION OF CEASE-AND-DESIST ORDER
Bank of Lakewood, Lakewood, CA; FDIC-99-23b; Issued 10/29/99
FINAL ORDERS ISSUED PURSUANT TO SECTION 7(a), 12 U.S.C. § 1817(a)
(Call Report Penalty)
Nisswa State Bank, Nisswa, MN, CR-99-9803-002; Stipulation and Consent Order to Pay $1,800; Issued 10/16/99
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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 10,327 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, including today's quarterly listing, 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).