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Financial Regulation News | Mortgage Regulations
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Dozens of Cease-and-Desist Orders Terminated

Recent regulatory actions against financial institutions

May 6, 2011

By MortgageDaily.com staff


Out of more than 125 recent actions by bank and credit union regulators -- more than 20 percent were the termination of cease-and-desist orders.

The Federal Deposit Insurance Corp. reported that it processed 87 matters during March, an increase from 60 matters the previous month. But things weren't so bad when compared with the 104 actions reported for March 2010 and given that nearly a third of the latest actions were the termination of prior orders.

The FDIC and Office of the Comptroller of the Currency together issued 37 cease-and-desist or consent orders. Failed financial institutions often previously faced cease-and-desist or consent orders. The FDIC issues "consent" orders pursuant to Section 8(b), 12 U.S.C. §1818(b).

Cease-and-Desist or Consent Orders
Company Location Regulator Order/Docket No. Date
Alliance Banking Company Winchester, KY FDIC FDIC-10-847b 3/18/2011
Artisans' Bank Wilmington, DE FDIC FDIC-11-047b 3/3/2011
Banco Industrial de Venezuela, C.A. Caracas, Venezuela, New York, NY, Miami, FL New York State Banking Department, Florida Office of Financial Regulation 11-042-B & I-FB, 11-042-B & I-FA1, 11-042-B " I-FA2 4/15/2011
Gateway Business Bank Cerritos, CA FDIC FDIC-11-054b; FDIC-10-888k 3/7/2011
Ojai Community Bank Ojai, CA FDIC FDIC-11-101b 3/31/2011
Plumas Bank Quincy, CA FDIC FDIC-11-035b 3/18/2011
The Pueblo Bank and Trust Company Pueblo, CO FDIC FDIC-11-025b 3/25/2011
Bank of Naples Naples, FL FDIC FDIC-11-036b 3/8/2011 
The Bank of Commerce Sarasota, FL FDIC FDIC-10-959b 3/30/2011
Bank of Idaho Idaho Falls, ID FDIC FDIC-11-003b 3/18/2011
Mercantile Bank Quincy, IL FDIC FDIC-11-012b 3/31/2011
Legacy Bank Altoona, IA FDIC FDIC-11-026b 3/17/2011
Heartland Bank Leawood, KS FDIC FDIC-10-914b 3/14/2011
United Kentucky Bank of Pendleton County, Inc. Falmouth, KY FDIC FDIC-11-104b 3/16/2011
Northpointe Bank Grand Rapids, MI FDIC FDIC-10-885b 3/30/2011
BANKWEST Rockford, MN FDIC FDIC-10-952b 3/17/2011
World's Foremost Bank Sidney, NE FDIC FDIC-10-775b, FDIC-10-777k 3/3/2011
Greystone Bank Raleigh, NC FDIC FDIC-10-844b 3/1/2011
Greer State Bank Greer, SC FDIC FDIC-10-904b 3/1/2011
Synergy Bank, S.S.B. McKinney, TX FDIC FDIC-10-235b 3/18/2011
The Business Bank Appleton, WI FDIC FDIC-10-945b 3/4/2011
Bancroft State Bank Bancroft, WI FDIC FDIC-10-936b 3/1/2011
PNC Bank, National Association Wilmington, DE OCC 2011-045 4/13/2011
The First National Bank of Polk County Cedartown, GA OCC 2011-022 3/8/2011
Conway Bank, National Association Conway Springs, KS OCC 2011-023 3/22/2011
Neighborhood National Bank Alexandria, MN OCC 2011-024 2/16/2011
Cadence Bank, National Association Starkville, MS OCC 2011-025 3/4/2011
Citibank, National Association Las Vegas, NV OCC 2011-046 4/13/2011
HSBC Bank Nevada, National Association Las Vegas, NV OCC 2011-052 4/13/2011
Metlife Bank, National Association Convent Station, NJ OCC 2011-047 4/13/2011
Bank of America, National Association Charlotte, NC OCC 2011-048 4/13/2011
U.S. Bank National Association ND Fargo, ND OCC 2011-049 4/13/2011
U.S. Bank National Association Cincinnati, OH OCC 2011-049 4/13/2011
JPMorgan Chase Bank, National Association Columbus, OH OCC 2011-050 4/13/2011
Wells Fargo Bank, National Association Sioux Falls, SD OCC 2011-051 4/13/2011
Eagle Valley Bank, National Association St. Croix Falls, WI OCC 2011-026 3/17/2011


The FDIC terminated cease-and-desist orders against 27 institutions during March. In comparison, only 10 such orders were terminated in February.

Order Terminating a Cease-and-Desist Order
Company Location Regulator Order/Docket No. Date
Professional Business Bank Pasadena, CA FDIC FDIC-09-371b 3/28/2011
Sunshine State Community Bank Port Orange, FL FDIC FDIC-09-324b 3/4/2011
Enterprise Banking Company McDonough, GA FDIC FDIC-09-462b 3/30/2011
Citizens Bank of Effingham Springfield, GA FDIC FDIC-10-102b 3/3/2011
Town Community Bank and Trust Antioch, IL FDIC FDIC-09-689b 3/31/2011
Benchmark Bank Aurora, IL FDIC FDIC-09-404b 3/31/2011
Broadway Bank Chicago, IL FDIC FDIC-09-573b 3/31/2011
Citizens Bank and Trust Company of Chicago Chicago, IL FDIC FDIC-09-248b 3/31/2011
Lincoln Park Savings Bank Chicago, IL FDIC FDIC-09-250b 3/31/2011
New Century Bank Chicago, IL FDIC FDIC-09-348b 3/31/2011
Ravenswood Bank Chicago, IL FDIC FDIC-09-155b 3/31/2011
Shorebank Chicago, IL FDIC FDIC-09-074b 3/31/2011
Heritage Community Bank Glenwood, IL FDIC FDIC-08-131b 3/31/2011
Community Bank of Lemont Lemont, IL FDIC FDIC-08-372b 3/31/2011
Bank of Lincolnwood Lincolnwood, IL FDIC FDIC-09-135b 3/31/2011
Wheatland Bank Naperville, IL FDIC FDIC-09-308b 3/31/2011
InBank Oak Forest, IL FDIC FDIC-09-275b 3/31/2011
Palos Bank and Trust Company Palos Heights, IL FDIC FDIC-09-279b 3/31/2011
Peotone Bank and trust Company Peotone, IL FDIC FDIC-09-184b 3/31/2011
Valley Community Bank St. Charles, IL FDIC FDIC-09-214b 3/31/2011
First Dupage Bank Westmont, IL FDIC FDIC-08-387b 3/31/2011
Bank of Franklin Meadville, MS FDIC FDIC-09-562b 3/31/2011
High Desert State Bank Albuquerque, NM FDIC FDIC-09-127b 3/14/2011
The First State Bank Camargo, OK FDIC FDIC-10-908b 3/30/2011
American State Bank Tulsa, OK FDIC FDIC-09-755b 3/30/2011
First Bank & Trust Brookings, SD FDIC FDIC-07-228b 3/14/2011
AmericanWest Bank Spokane, WA FDIC FDIC-09-144b 3/24/2011


The OCC, the Federal Reserve and multiple state banking regulators recently entered formal agreements with 16 institutions. Such agreements can require the conservation of capital, operational improvements and, sometimes, management changes.

Formal Agreements
Company Location Regulator Order/Docket No. Date
CenterBank, Inc. Jacksonville, FL Federal Reserve Bank of Atlanta 11-033-WA /RB-HC 4/7/2011
Community Bankers Trust Corporation, Essex Bank Glen Allen, VA, Tappahannock, VA Federal Reserve Bank of Richmond, State Corporation Commission Bureau of Financial Institutions 11-031-WA/RB-BHC, 11-031-WA/RB-SM 4/21/2011
TransPecos Financial Corp., TransPecos Banks San Antonio, TX, Pecos, TX Federal Reserve Bank of Dallas, Texas Commissioner of Banking 11-020-WA/RB-HC, 11-020-WA/RB-SM 4/13/2011
The Leaders Group, Inc., Oak Brook, IL Federal Reserve Bank of Chicago 11-047-WA/RB-HC 4/26/2011
Calwest Bancorp Rancho Santa Margarita, CA Federal Reserve Bank of San Francisco 11-055 -WA/RB-HC 4/29/2011
First Financial Service Corporation Elizabethtown, KY Federal Reserve Bank of St. Louis 11-038-WA/RB-HC 4/20/2011
Regent Bancorp, Inc., Davie, FL Federal Reserve Bank of Atlanta 11-045-WA/RB-HC 4/25/2011
Currie Bancorporation, Inc. Currie, MN Federal Reserve Bank of Minneapolis 08-030-WA/RB-HC 4/12/2011
Premier Bancorp, Inc. Wilmette, IL Federal Reserve Bank of Chicago 11-039-WA /RB-HC 4/18/2011
Syringa Bancorp Boise, ID Federal Reserve Bank of San Francisco, Idaho Department of Finance 11-001-WA/RB-HC, 2011-3-01 4/18/2011
First National Bank and Trust Atmore, AL OCC 2011-029 2/15/2011
National Bank of Earlville Earlville, IL OCC 2011-030 2/18/2011
Woodlands National Bank Hinckley, MN OCC 2011-031 3/1/2011
The First National Bank of Germantown Germantown, OH OCC 2011-032 3/22/2011
The Kishacoquillas Valley National Bank of Belleville Belleville, PA OCC 2011-033 2/17/2011
American National Bank Wichita Falls, TX OCC 2011-034 2/22/2011


The FDIC, OCC and National Credit Union Administration banned 15 individuals from financial institutions through removal-and-prohibition orders issued pursuant to Section 8(e), 12 U.S.C. § 1818(e).

Removal / Prohibition Orders
Employer Location Individual Regulator Amount Order # Date
Troy Bank & Trust Company Troy, AL Peter L. Cash FDIC na FDIC-09-318e 3/3/2011
First Guaranty Bank Hammond, LA Jamy L. Sibley (formerly Jamy L. Kiger) FDIC na FDIC-09-501e 3/7/2011
The Park Avenue Bank New York, NY Charles J. Antonucci FDIC na FDIC-10-781e 3/17/2011
Northwest Savings Bank Warren, PA Lisa A. Alcorn FDIC na FDIC-10-770e 3/3/2011
First Reliance Bank Florence, SC Antoinete B. Hill FDIC na FDIC-10-320e 3/3/2011
FirstBank Southwest Amarillo, TX Megan Hahn FDIC na FDIC-10-528e 3/3/2011
Citizens State Bank of Luling Luling, TX Edward S. Casseb FDIC na FDIC-10-536e 3/17/2011
Bank of America, National Association Charlotte, NC Maria C. Suan OCC na 2011-036 3/9/2011
JPMorgan Chase Bank, National Association Columbus, OH Matthew Moore OCC na 2011-027 2/22/2011
JPMorgan Chase Bank, National Association Columbus, OH Stacey L. Budd OCC na 2011-037 3/15/2011
Blc Bank, National Association Strasburg, PA Joseph Braas OCC na 2011-038 2/17/2011
Blc Bank, National Association Strasburg, PA Michael Schlager OCC na 2011-039 2/17/2011
Blc Bank, National Association Strasburg, PA Mary Stankiewicz OCC na 2011-040 2/17/2011
Southern First Bank, National Association Greenville, SC Collin D. Mackie OCC na 2011-028 3/15/2011
Premier Members Federal Credit Union Boulder, CO Rhett B. Rowe NCUA $9,306 11-0015-R5 5/6/2011


Civil Money Penalties were issued against 18 companies by the OCC and the FDIC -- which noted that such orders are issued pursuant to Section 8(i), 12 U.S.C. § 1818(i).

Final Orders - Civil Money Penalties
Company Location Individual Regulator Amount Order/Docket No. Date
ServisFirst Bank Birmingham, AL na FDIC $7,500.00 FDIC-10-900k 3/1/2011
Gateway Business Bank Cerritos, CA na FDIC $25,000.00 FDIC-10-888k 3/7/2011
Integrity Bank & Trust Monument, CO na FDIC $3,500.00 FDIC-10-865k 3/28/2011
Regent Bank Davie, FL na FDIC $6,000.00 FDIC-11-049k 3/24/2011
Pulaski Savings Bank Chicago, IL na FDIC $1,500.00 FDIC-10-890k 3/28/2011
Central State Bank Clayton, IL na FDIC $1,155.00 FDIC-10-768k 3/8/2011
First Michigan Bank Troy, MI na FDIC $1,200.00 FDIC-10-769k 3/4/2011
World's Foremost Bank Sidney, NE na FDIC $250,000.00 FDIC-10-775b, FDIC-10-777b 3/3/2011
AmBank Silver City, NM na FDIC $15,000.00 FDIC-10-569k 3/17/2011
The Farmers and Merchants Bank Caldwell, OH na FDIC $6,800.00 FDIC-10-789k 3/25/2011
Coatesville Savings Bank Coatesville, PA na FDIC $2,750.00 FDIC-11-071k 3/25/2011
Harleysville Savings Bank Harleysville, PA na FDIC $8,500.00 FDIC-10-878k 3/18/2011
Northstar Bank of Texas Denton, TX na FDIC $9,500.00 FDIC-10-928k 3/31/2011
Citizens State Bank of Luling Luling, TX Edward S. Casseb FDIC $5,000.00 FDIC-09-645k 3/17/2011
Mitchell Bank Milwaukee, WI na FDIC $3,060.00 FDIC-09-675k 3/25/2011
Pacific National Bank Miami, FL na OCC n/a 2011-021 3/23/2011
JPMorgan Chase Bank, National Association Columbus, OH Matthew Moore OCC n/a 2011-027 2/22/2011
Southern First Bank, National Association Greenville, SC Collin D. Mackie OCC n/a 2011-028 3/15/2011


Prompt Corrective Actions were issued against 8 companies by the FDIC, OCC, and Fed. The FDIC issues prompt corrective actions pursuant to Section 38, 12 U.S.C. § 1831o.

Final Orders - Prompt Corrective Actions
Company Location Regulator Order/Docket No. Date
Bank of Choice Greeley, CO FDIC FDIC-11-038PCAS 3/14/2011
Signature Bank Windsor, CO FDIC FDIC-11-122PCAS 3/31/2011
Bank of Shorewood Shorewood, IL FDIC FDIC-11-115PCAS 3/25/2011
Oxford Bank Oxford, MI FDIC FDIC-10-889PCAS 3/4/2011
Heritage Banking Group Carthage, MS FDIC FDIC-10-907PCAS 3/2/2011
Summit Bank Burlington, WA FDIC FDIC-11-136PCAS 3/2/2011
First Chicago Bank & Trust Chicago, IL Federal Reserve Bank of Chicago 11-046-PCA-S 4/7/2011
The First National Bank of Davis Davis, OK OCC 2011-035 3/2/2011


Orders terminating supervisory prompt corrective action directive were issued for several banks during March.

Terminations of Existing Enforcement Actions
Company Location Regulator Order/Docket No. Date
First State Bank Sarasota, FL FDIC FDIC-09-333PCAS 3/30/2011
The First State Bank Camargo, OK FDIC DIC-10-915PCAS 3/30/2011
Prosper Bank Prosper, TX FDIC FDIC-10-207PCAS 3/14/2011
Conway Bank, National Association Conway Springs, KS OCC 2011-041, EA# 2005-25 3/22/2011
Neighborhood National Bank Alexandria , MN OCC 2011-042, EA# 2010-006 2/16/2011
Eagle Valley Bank, National Association St. Croix Falls, WI OCC 2011-026, EA# 2009-222 3/17/2011
First National Bank of Platteville Platteville, WI OCC 2011-043, EA# 2008-166 3/2/2011


A Final Order Section 19 was issued by the FDIC against Vincent Canzoneri, and James Lee Goodman, Jr.

A notice of charges for an Order to Cease and Desist and Notice of Hearing was issued by the FDIC to Republic Bank & Trust Co. in Louisville, Kentucky on Feb. 9.


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