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NO ADMINISTRATIVE HEARINGS SCHEDULED
FOR IMMEDIATE RELEASE
Frank Gresock (202) 898-6634
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 10 orders in March. These included five cease-and-desist orders, two civil money penalty orders, two 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 877-275-3342). The orders will also be made available online within a week of the issuance of this news release. To view the orders online, visit the FDIC's Web page at http://www.fdic.gov/bank/individual/enforcement/index.html. A list of orders made public today follows.
FINAL ORDERS ISSUED PURSUANT TO SECTION 8(b), 12 U.S.C. § 1818(b)
Community Bank, Blountsville, AL; FDIC-02-130b; Issued 3/12/03
The Foster Bank, Chicago, IL; FDIC-03-004b; Issued 3/14/03
North Country Bank and Trust, Manistique, MI; FDIC-03-002b; Issued 3/26/03
First Savings Bank, Norwood, OH; FDIC-03-059b; Issued 3/31/03
Clay County Bank, Inc., Clay, WV; FDIC-02-201b; Issued 3/3/03
FINAL ORDERS ISSUED PURSUANT TO SECTION 8(i), 12 U.S.C. § 1818(i)
Friends Bank, New Smyrna Beach, FL; FDIC-02-194k; Order to Pay Civil Money Penalty in the amount of $900; Issued 3/20/03
Cowlitz Bank, Longview, WA; FDIC-02-202k; Order to Pay Civil Money Penalty in the amount of $27,000; Issued 3/21/03
TERMINATIONS OF CEASE-AND-DESIST ORDERS
First Mountain Bank, Big Bear Lake, CA; FDIC-99-140b; Issued 3/24/03
Southern Pacific Bank, Torrance, CA; FDIC-00-138b; Issued 3/13/03
First Mountain Bank, Big Bear Lake, CA; FDIC-00-88e; Decision and Order to Prohibit From Further Participation as to Dennis Shollenburg, Hazel Hagy, Vicky Melton, and Brenda Knudson; and Order of Dismissal as to Robert Hagy; Issued 3/11/03
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 9,354 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. The FDIC receives no federal tax dollars - insured financial institutions fund its operations.
FDIC press releases and other information are available on the Internet at www.fdic.gov and may also be obtained through the FDIC's Public Information Center (877-275-3342 or (703) 562-2200).
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