Monthly regulatory orders and other matters handled by the Federal Deposit Insurance Corporation have more than doubled from last year. The Federal Reserve has also been busy with its own orders.
The FDIC reported Friday that it executed 67 matters during January, climbing from more than the 57 reported for December and more than doubling from 25 during January 2009.
The following institutions faced FDIC cease-and-desist orders in January. Failed financial institutions often face such orders prior to being seized by regulators.
Company | Location | Regulator | Order/Docket No. | Date |
Athol-Clinton Co-operative Bank | Athol, Mass. | FDIC | FDIC-09-605b | Jan. 19 |
Bank of Smithtown | Smithtown, N.Y., | FDIC | FDIC-09-655b | Jan. 29 |
Bank of Valdosta | Valdosta, Ga. | FDIC | FDIC-09-465b | Jan. 8 |
Broadway Bank | Chicago | FDIC | FDIC-09-573b | Jan. 26 |
Bank of Wrightsville | Wrightsville, Ga. | FDIC | FDIC-09-561b | Jan. 28 |
Cambridge State Bank | Cambridge, Wis. | FDIC | FDIC-09-659b | Jan. 30 |
Capitol City Bank & Trust Co. | Atlanta | FDIC | FDIC-09-538b | Jan. 20 |
The Citizens Bank of East Tennessee | Rogersville, Tenn. | FDIC | FDIC-09-645b | Jan. 28 |
Citizens Union Bank of Shelbyville | Shelbyville, Ky. | FDIC | FDIC-09-567b | Jan. 15 |
Clarke County State Bank | Osceola, Iowa | FDIC | FDIC-09-668b | Jan. 8 |
Copper Star Bank | Scottsdale, Ariz. | FDIC | FDIC-09-657b | Jan. 28 |
The Cowlitz Bank | Longview, Wash. | FDIC | FDIC-09-305b | Jan. 27 |
Creekside Bank | Woodstock, Ga. | FDIC | FDIC-09-529b | Jan. 8 |
Evergreen State Bank | Stoughton, Wis. | FDIC | FDIC-08-410b | Jan. 25 |
Farmers & Merchants Bank | Eatonton, Ga. | FDIC | FDIC-09-316b | Jan. 13 |
First Choice Community Bank 1874 | Newnan, Ga. | FDIC | FDIC-09-346b | Jan. 19 |
First Security Bank & Trust Co. | Norton, Kan. | FDIC | FDIC-09-616b | Jan. 6 |
First State Bank of Kiester | Kiester, Minn. | FDIC | FDIC-09-616b | Jan. 20 |
Firstier Bank | Louisville, Colo. | FDIC | FDIC-09-601b | Jan. 22 |
Gulf Coast Community Bank | Pensacola, Fla. | FDIC | FDIC-09-421b | Jan. 29 |
Heritage Bank | Jonesboro, Ga. | FDIC | FDIC-09-664b | Jan. 8 |
Highland Community Bank | Chicago | FDIC | FDIC-09-423b | Jan. 21 |
Northeast Bank | Minneapolis | FDIC | FDIC-09-656b | Jan. 26 |
Oceanside Bank | Jacksonville Beach, Fla. | FDIC | FDIC-09-037b | Jan. 7 |
The Patterson Bank | Patterson, Ga. | FDIC | FDIC-09-687b | Jan. 29 |
Peoples Independent Bank | Boaz, Ala. | FDIC | FDIC-09-670b | Jan. 29 |
Pilsen State Bank | Lincolnville, Kan. | FDIC | FDIC-09-607b | Jan. 6 |
Security State Bank | Iron River, Wis. | FDIC | FDIC-09-546b | Jan. 20 |
Security State Bank | Scott City, Kan. | FDIC | FDIC-09-634b | Jan. 22 |
State Bank of Burnettsville | Burnettsville, Ind. | FDIC | FDIC-09-534b | Jan. 14 |
Stoneham Savings Bank | Stoneham, Mass. | FDIC | FDIC-10-019b | Jan. 26 |
Sunrise Bank of Arizona | Phoenix | FDIC | FDIC-09-704b | Jan. 15 |
Town Community Bank and Trust | Antioch, Ill. | FDIC | FDIC-09-689b | Jan. 14 |
The Union Bank | Marksville, La. | FDIC | FDIC-09-726b | Jan. 29 |
Union State Bank | Pell City, Ala. | FDIC | FDIC-09-589b | Jan. 29 |
Cease-and-desist orders were terminated by the FDIC against Edgebrook Bank in Chicago; The Bank of Harlan in Harlan, Ky.; Mt. Washington Co-operative Bank in South Boston, Mass.; and Nevada Bank and Trust Co. in Caliente, Nev. In addition, a modification of order to cease and desist (No. FDIC-08-293b) was issued on Jan. 27 by the FDIC for Blue Ridge Savings Bank Inc. in Asheville, N.C.
Formal agreements were recently reached with the following institutions, according to the Federal Reserve Board. Such agreements often required the impacted institution to conserve capital, sometimes make changes to management and improve underwriting standards and procedures.
Company | Location | Regulator | Order/Docket No. | Date |
Bankers’ Bank of the West Bancorp, Bankers’ Bank of the West | Denver | Federal Reserve Bank of Kansas City, Colorado Division of Banking | 10-20-WA/RB-HC, 10-20-WA-SMa | Feb. 19 |
Beach First National Bancshares Inc. | Myrtle Beach, S.C. | Federal Reserve Bank of Richmond | 10- 012-WA/RB-HC | Jan. 29 |
Citizens Bancorp | Nevada City, Calif. | Federal Reserve Bank of San Francisco | 10-006-WA/RB-HC | Feb. 22 |
Citizens Bancshares Inc., The Citizens Bank of Edmond | Edmond, Okla. | Federal Reserve Bank of Kansas City, Oklahoma State Banking Department | 09-173-WA/RB-HC, 09-173-WA/RB-SM | Jan. 27 |
Community First Bank-Chicago | Chicago | Federal Reserve Bank of Chicago | 10-003-WA/RB-SM | Feb. 3 |
Community National Bancorporation | Waterloo, Iowa | Federal Reserve Bank of Chicago | 09-201-WA/RB-HC | Feb. 1 |
First National Corp. | Savannah, Ga. | Federal Reserve Bank of Atlanta | 10-008 -WA/RB-HC | Feb. 4 |
Heritage Commerce Corp., Heritage Bank of Commerce | San Jose, Calif. | Federal Reserve Bank of San Francisco, California Office of Financial Institutions | 10-023-WA/RB-HC, 10-023-WA/RB-SM | Feb. 17 |
Mercantile Bancorp Inc. | Quincy, Ill. | Federal Reserve Bank of St. Louis | 10-027-WA/RB-HCC | Feb. 16 |
Pacific State Bancorp, Pacific State Bank | Stockton, Calif. | Federal Reserve Bank of San Francisco, California Office of Financial Institutions | 10-014-WA/RB-HC, 10-014-WA/RB-SM | Feb. 18 |
SunFirst Corp. | St. George, Utah | Federal Reserve Bank of San Francisco | 10-007-WA/RB-HCC | Feb. 4 |
TCM Co. | Crete, Neb. | Federal Reserve Bank of Kansas City | 10- 016-WA/RB-HC | Feb. 1 |
Institutions in the following table faced FDIC final orders – civil money penalties.
Company | Location | Regulator | Order/Docket No. | Amount | Date |
American Bank | Fond du Lac, Wis. | FDIC | FDIC-09-629k | $1,550 | Jan. 28 |
Americana Community Bank | Sleepy Eye, Minn. | FDIC | FDIC-09-543k | $4,000 | Jan. 27 |
Bank of Doniphan | Doniphan, Neb. | FDIC | FDIC-09-544k | $4,200 | Jan. 4 |
Bay Bank | Green Bay, Wis. | FDIC | FDIC-09-072k | $2,650 | Jan. 19 |
Buffalo Savings Bank | Buffalo, Iowa | FDIC | FDIC-09-653k | $4,000 | Jan. 8 |
Busey Bank | Champaign, Ill. | FDIC | FDIC-09-389k | $7,445 | Jan. 13 |
The Citizens Bank | Morehead, Ky. | FDIC | FDIC-09-181k | $4,700 | Jan. 19 |
Citizens Independent Bank | Saint Louis Park, Minn. | FDIC | FDIC-09-711k | $1,400 | Jan. 4 |
Commonwealth Bank and Trust Co. | Louisville, Ky. | FDIC | FDIC-09-384k | $16,170 | Jan. 26 |
Grants State Bank | Grants, N.M. | FDIC | FDIC-09-399k | $4,700 | Jan. 5 |
Hometown Bank, a Cooperative Bank | Webster, Mass. | FDIC | FDIC-09-663k | $10,000 | Jan. 4 |
Moss, Scott A. of First State Bank | Shelton, Neb. | FDIC | FDIC-08-267k | $25,000 | Jan. 15 |
Prime Security Bank | Karlstad, Minn. | FDIC | FDIC-09-618k | $4,000 | Jan. 27 |
South Shore Savings Bank | South Weymouth, Mass. | FDIC | FDIC-09-500k | $50,000 | Jan. 27 |
Stewart, Kerwyn L. of First State Bank | Shelton, Neb. | FDIC | FDIC-08-269k | $25,000 | Jan. 15 |
Union Bank and Trust Co. | Pottsville, Pa. | FDIC | FDIC-09-636k | $8,575 | Jan. 12 |
Removal-and-prohibition orders were issued against the following individuals by the FDIC.
Individual | Employer | Location | Regulator | Order # | Date |
Bailey, Cindy L. | Security State Bank | Scott City, Kan. | FDIC | FDIC-09-202e | Jan. 14 |
Brophy, Christopher R. | Citizens Bank of Pennsylvania | Philadelphia | FDIC | FDIC-09-639e | Jan. 27 |
Denson, Kathryn F. | Heritage Banking Group | Carthage, Miss. | FDIC | FDIC-09-136e | Jan. 21 |
Jones, Nina | Citizens Bank of Pennsylvania | Philadelphia | FDIC | FDIC-09-570e | Jan. 21 |
Mareska, Susan J. | American Bank & Trust | Wessington Springs, S.D. | FDIC | FDIC-09-478e | Jan. 21 |
Mikkola, Allison M. | Southbridge Savings Bank | Southbridge, Mass. | FDIC | FDIC-06-100e | Jan. 14 |
Moss, Scott A. | First State Bank | Shelton, Neb. | FDIC | FDIC-08-266e | Jan. 15 |
Salinas, Kristina M. | First Independent Bank | Vancouver, Wash. | FDIC | FDIC-09-322e | Jan. 14 |
Stewart, Kerwyn L. | First State Bank | Shelton, Neb. | FDIC | FDIC-08-268e | Jan. 15 |
Swafford, Lisa A. | Prosperan Bank | Oakdale, Minn. | FDIC | FDIC-09-281e | Jan. 14 |
The Federal Reserve Board issued a prompt corrective action (No. 10-030-PCA-SMSM) on Feb. 16 against Marco Community Bank in Marco Island, Fla.
The FDIC said it issued an order granting permission to file application and approving application for consent to participate in the affairs of any insured depository institution (No. FDIC-09-624L) for David Emad Hamdan on Jan. 25.