twitter linkedin
facebook google+
Search:

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News

 

Mortgage News

HOT Topics

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map

www.loan-academy.com/
Financial Regulation News | Mortgage Regulations
Bank and mortgage regulators, regulations and regulatory actions. Coverage of regulatory legislation and testimony.

www.mortgagebranchmanagerjobs.com
Banks Face Fed, OCC Actions

Recent regulatory actions against financial institutions

April 16, 2010

By MortgageDaily.com staff


Nearly three dozen regulatory actions were recently taken against U.S. financial institutions. Formal agreements, which sometimes require changes in operations and management, accounted for most of the latest activity.

Cease-and-desist orders, which often precede the failure of a bank, were issued against the following two banks by the Office of the Comptroller of the Currency.

Cease-and-Desist Orders
Company Location Regulator Order/Docket No. Date
Far East National Bank Los Angeles OCC 2010-038 March 9
Solera National Bank Lakewood, Colo. OCC 2010-039 March 18

The OCC terminated cease-and-desist orders against The Granville National Bank and First National Bank of Kansas.

Formal agreements, which usually require the conservation of capital, were announced by the Federal Reserve Board and the OCC against the following institutions.

Formal Agreements
Company Location Regulator Order/Docket No. Date
Access Bancshares Inc. Champlin, Minn. Federal Reserve Bank of Minneapolis 10-035-WA/RB-HC April 7
Atlantic BancGroup, Inc. Jacksonville Beach, Fla. Federal Reserve Bank of Atlanta 09-184-WA/RB-HC March 26
Atlantic Southern Financial Group Inc. Macon, Ga. Federal Reserve Bank of Atlanta, Banking Commissioner of the State of Georgia 10-040-WA/RB-HC March 26
Bank of The Rio Grande N.A. Las Cruces, N.M. OCC 2010-056 Feb. 17
BankTennessee Bancshares Inc., BankTennessee Collierville, Tenn. Federal Reserve Bank of St. Louis 10-005-WA/RB-HC, 10-005-WA/RB-SM March 25
Citizens Bancshares of Woodville Inc. Hudson, Wis. Federal Reserve Bank of Minneapolis 09-178-WA/RB-HC March 31
Citizens First National Bank Princeton, Ill. OCC 2010-051 March 15
Citizens National Bank of Paintsville Paintsville, Ky. OCC 2010-053 Feb. 23
FCB Florida Bancorporation Inc., First Commercial Bank of Florida Orlando, Fla. Federal Reserve Bank of Atlanta, State of Florida Office of Financial Regulation 10-038-WA/RB-HC, 10-038-WA/RB-SM March 31
First Banks Inc., The San Francisco Co., First Bank St. Louis Federal Reserve Bank of St. Louis 10-021-WA/RB-HC, 10-021-WA/RB-SM March 24
First National Bank Hays, Kan. OCC 2010-052 Jan. 27
The First National Bank and Trust Company of Broken Arrow Broken Arrow, Okla. OCC 2010-057 Feb. 11
First National Bank Minnesota St. Peter, Minn. OCC 2010-055 March 3
First National Bank of Central Alabama Aliceville, Ala. OCC 2010-045 Feb. 17
First National Bankers Bank, Alabama Homewood, Ala. OCC 2010-047 March 24
Forrest City Bank, N.A. Forrest City, Ark. OCC 2010-048 Feb. 17
Freedom National Bank Greenville, R.I. OCC 2010-059 March 4
Golden Bank, N.A. Houston OCC 2010-060 Jan 20
Independent Bancshares Inc. Ocala, Fla. Federal Reserve Bank of Atlanta 10-047-WA/RB-HC March 29
Lakewood Bank, N.A. Baxter, Minn. OCC 2010-054 March 15
The Mason National Bank Mason, Texas OCC 2010-061 March 15
Midsouth Bank, N.A. Dothan, Ala. OCC 2010-046 March 25
Peoples National Bank Leadville Leadville, Colo. OCC 2010-049 Feb. 17
Resource Bank, N.A. Dekalb, Ill. OCC 2010-050 Feb. 11
Rosemount Financial Services Inc. Rosemount, Minn. Federal Reserve Bank of Minneapolis 10-050 -WA/RB-HC April 2
Valley National Bank Tulsa, Okla. OCC 2010-058 Feb/ 24

Formal agreements with First National Bank and Texana Bank, N.A., were terminated by the OCC.

The OCC reported that five institutions faced civil money penalties.

Civil Money Penalties
Individual Company Location Regulator Order/Docket No. Amount Date
Larsh, Steve First National Bank in Pawhuska Pawhuska, Okla. OCC 2010-040 na Feb. 5
Fisher, Alvin Texas Republic Bank, N.A. Frisco, Texas OCC 2010-044 na March 29
Stuart, Douglas First National Bank in Pawhuska Pawhuska, Okla. OCC 2010-042 na Feb. 5
Stuart, Elizabeth A. First National Bank in Pawhuska Pawhuska, Okla. OCC 2010-041 na Feb. 5
Stutz, Larry First National Bank in Pawhuska Pawhuska, Okla. OCC 2010-043 na Feb. 5

The Fed reported the following prompt corrective action.

Prompt Corrective Action Directive
Company Location Regulator Order # Date
Midwest Bank and Trust Co. Elmwood Park, Ill. Federal Reserve Board 10-055-PCA-SM March 30

The OCC reported that a notice (No. N10-001) was filed against Richard E. Magnuson of American Bank, N.A., in Lemars, Iowa on Feb. 18.


next story

back to current headlines

Corporate Mortgage News
M e r g e r s, a c q u i s i t i o n s and private and public offerings. Other corporate activity including executive appointments, bankruptcies name changes.


The Mortgage Graveyard
Failed, closed and a c q u i r e d mortgage-related entities.



Bank news

Credit Union news


SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter

MBS

mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders