FDIC MAKES PUBLIC MARCH ENFORCEMENT ACTIONS;
NO ADMINISTRATIVE HEARINGS SCHEDULED
FOR IMMEDIATE RELEASE
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 March. No administrative hearings are scheduled for May.
The FDIC processed a total of 15 orders in March. These included six cease-and-desist orders, two removal and prohibition orders, three orders to pay civil money penalties, three terminations of cease-and-desist orders and one termination of an order terminating deposit insurance.
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). The orders will also be made available on-line within a week of the issuance of this news release. To view the orders on-line, visit the FDIC's Web page at http://www.fdic.gov/bank/individual/enforcement/index.html. A list of orders made public today follows.
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FINAL ORDERS ISSUED PURSUANT TO SECTION 8(b), 12 U.S.C. § 1818(b) (Cease-and-Desist Orders)
First Mountain Bank, Big Bear Lake, CA; FDIC-01-025b; Issued 3/1/01
Bank of Chestnut, Chestnut, IL; FDIC-00-131b; Issued 3/9/01
Illinois Community Bank, Effingham, IL; FDIC-01-010b; Issued 3/21/01
PBK Bank, Inc., Richmond, KY; FDIC-01-007b; Issued 3/22/01
Banner County Bank, Inc., Harrisburg, NE; FDIC-01-036b; Issued 3/29/01
LBS Bank - New York, New York, NY; FDIC-00-118b; Issued 3/30/01
FINAL ORDERS ISSUED PURSUANT TO SECTION 8(e), 12 U.S.C. § 1818(e) (Removal and Prohibition Orders)
Peoples Bank of Fordland, Fordland, MO; FDIC-00-098e; against Terry L. Porter; Issued 3/29/01
First State Bank, Oklahoma City, OK; FDIC-00-096e; against Robert Michael Mayfield;
FINAL ORDERS ISSUED PURSUANT TO SECTION 8(i), 12 U.S.C. § 1818(i) (Removal and Prohibition Orders)
State Central Bank; Keokuk, IA; FDIC-01-016k; Order to Pay in the amount of $3,500; Issued 3/16/01
BSB Bank & Trust Company, Binghamton, NY; FDIC-00-095k; Order to Pay against Fielding Simmons III in the amount of $7,500; Issued 3/1/01
First State Bank, New Braunfels, TX; FDIC-00-124k; Order to Pay in the amount of $1,600; Issued 3/8/01
Bank of Honolulu, Honolulu, HI; FDIC-98-120b; Issued 3/27/01
First Alliance Bank and Trust Company, Manchester, NH; FDIC-99-097b; Issued 3/9/01
North Milwaukee State Bank, Milwaukee, WI; FDIC-97-89b; FDIC-99-020b; Issued 3/8/01
Termination of Insurance
First Alliance Bank and Trust Company, Manchester, NH; FDIC-00-108a; Issued 3/9/01
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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 9,905 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).