There were no shortage of regulatory actions against financial institutions over the past month. Officials are meeting this week to discuss regulation of the largest financial services companies.
Tuesday, the Federal Deposit Insurance Corp. will hold a roundtable with government officials, industry executives, academics and investors. The focus of the event will be the new resolution authority provided for the largest financial firms in the Dodd Frank Wall Street Reform and Consumer Protection Act.
Tomorrow’s roundtable is the first in a series of discussions where participation is by invitation only.
Last month, the FDIC said it processed 76 matters, lower than 80 reported for June. During July 2009, 64 matters were processed. Some of those matters were cease-and-desist orders, which often precede a bank failure.
| Company | Location | Regulator | Order/Docket No. | Date |
| 1st Commerce Bank | North Las Vegas, Nev. | FDIC | FDIC-09-703b | July 13 |
| AztecAmerica Bank | Berwyn, Ill. | FDIC | FDIC-10-441b | July 30 |
| Bank of Jackson County | Graceville, Fla. | FDIC | FDIC-10-364b | July 27 |
| Barclays Bank PLC | London and the bank’s branch in New York | Federal Reserve Board, New York State Banking Department | 10-165-B-FB, 10-165-B-FBR | Aug. 16 |
| Benchmark Bank | Gahanna, Ohio | FDIC | FDIC-10-355b | July 30 |
| Cascade Bank | Everett, Wash. | FDIC | FDIC-10-322b | July 15 |
| CB&S Bank Inc. | Russellville, Ala. | FDIC | FDIC-10-176b | July 8 |
| Citizens Bank of Mukwonago | Mukwonago, Wis. | FDIC | FDIC-10-357b | July 30 |
| First Bank and Trust | New Orleans, La. | FDIC | FDIC-10-329b | July 9 |
| First Chatham Bank | Savannah, Ga. | FDIC | FDIC-10-177b | July 13 |
| First Choice Bank | Geneva, Ill. | FDIC | FDIC-10-311b | July 29 |
| Great Eastern Bank of Florida | Miami | FDIC | FDIC-10-365b | July 27 |
| Hanover Community Bank | Garden City Park, N.Y. | FDIC | FDIC-10-292b | July 27 |
| HarVest Bank of Maryland | Rockville, Md. | FDIC | FDIC-10-349b | July 2 |
| Main Street Bank | Kingwood, Texas | FDIC | FDIC-10-321b | July 28 |
| Metro United Bank | San Diego | FDIC | FDIC-10-379b | July 22 |
| Midwest Community Bank | Plainville, Kan. | FDIC | FDIC-08-373b | July 12 |
| Millennium Bank | Des Plaines, Ill. | FDIC | FDIC-10-200b | July 20 |
| Monroe Bank & Trust | Monroe, Mich. | FDIC | FDIC-10-163b | July 12 |
| Oceanic Bank | San Francisco | FDIC | FDIC-10-362b | July 15 |
| Parkway Bank | Lenoir, N.C. | FDIC | FDIC-10-402b | July 15 |
| Pinnacle Bank | Orange City, Fla. | FDIC | FDIC-10-184b | July 7 |
| Progrowth Bank | Nicollet, Minn. | FDIC | FDIC-10-238b | July 1 |
| Riverland Bank | Jordan, Minn. | FDIC | FDIC-10-208b | July 1 |
| Security Bank, S.B. | Springfield, Ill. | FDIC | FDIC-10-317b | July 20 |
| Security Savings Bank, SSB | Southport, N.C. | FDIC | FDIC-10-330b | July 28 |
| Sevier County Bank | Sevierville, Tenn. | FDIC | FDIC-10-150b | July 27 |
| Sherburne State Bank | Becker, Minn. | FDIC | FDIC-10-296b | July 12 |
| Summit Bank | Prescott, Ariz. | FDIC | FDIC-10-384b | July 28 |
| TIB Bank | Naples, Fla. | FDIC | FDIC-10-358b | July 2 |
| The Wilton Bank | Wilton, Conn. | FDIC | FDIC-10-375b | July 22 |
The FDIC also issued several orders terminating cease-and-desist orders.
| Company | Location | Regulator | Order/Docket No. | Date |
| Appalachian Community Bank | Ellijay, Ga. | FDIC | FDIC-09-010b | July 27 |
| Darien Rowayton Bank | Darien, Conn. | FDIC | FDIC-09-178b | July 15 |
| First Lowndes Bank | Fort Deposit, Ala. | FDIC | FDIC-08-018b | July 28 |
| Freedom Bank | Bradenton, Fla. | FDIC | FDIC-08-173b | July 28 |
| Independence Bank | Newport Beach, Calif. | FDIC | FDIC-08-037b | July 23 |
| Independence Bank | Newport Beach, Calif. | FDIC | FDIC-08-162b | July 23 |
| Peninsula Bank | Englewood, Fla. | FDIC | FDIC-09-498b | July 13 |
| Satilla Community Bank | Saint Marys, Ga. | FDIC | FDIC-09-147b | July 28 |
| West Coast Bank | Lake Oswego, Ore. | FDIC | FDIC-09-453b | July 15 |
Financial institutions that enter formal agreements with their regulators are often required to conserve capital, improve operations and — sometimes — replace management.
| Company | Location | Regulator | Order/Docket No. | Date |
| Battle Creek State Company Inc., Battle Creek State Bank | Battle Creek, Neb. | Federal Reserve Bank of Kansas City, Nebraska Department of Banking and Finance | 10-151-WA/RB-HC, 10-151-WA/RB-SM | Aug. 9 |
| Brand Group Holdings Inc., The Brand Banking Co. | Lawrenceville, Ga. | Federal Reserve Bank of Atlanta, Banking Commissioner of the State of Georgia | 10-160-WA/RB-HC, 10-160-WA/RB-SM | Aug. 2 |
| CSRA Bank Corp. | Wrens, Ga. | Federal Reserve Bank of Atlanta, Banking Commissioner of the State of Georgia | 10-176-WA/RB-HC | Aug. 19 |
| First Bancshares Inc. of Cold Spring | Cold Spring, Minn. | Federal Reserve Bank of Minneapolis | 10-084-WA/RB-HC | Aug. 16 |
| Guaranty Development Co., American Bank | Livingston, Mont.; Bozeman, Mont. | Federal Reserve Bank of Minneapolis, and the Montana Division of Banking and Financial Institutions | 10-072-WA/RB-HC, 10-072-WA/RB-SM | Aug. 3 |
| Highland Bancshares Inc. | St. Michael, Minn. | Federal Reserve Bank of Minneapolis | 10-164-WA/RB-HC | Aug. 20 |
| MidSouth Bank | Murfreesboro, Tenn. | Federal Reserve Bank of Atlanta | 10-143-WA/RB-SM | Aug. 5 |
| UCB Financial Group Inc. | Atlanta | Federal Reserve Bank of Atlanta, and the Banking Commissioner of the State of Georgia | 10-178-WA/RB-HC | Aug. 19 |
| Union Bancshares Inc. | Marksville, La. | Federal Reserve Bank of Atlanta, and the Louisiana Office of Financial Institutions | 10-155-WA/RB-HC | Aug. 5 |
| Wisconsin Bancshares Inc. | Kenosha, Wis. | Federal Reserve Bank of Chicago | 10-139-WA/RB-HC | Aug. 2 |
The FDIC issued removal-prohibition orders pursuant to Section 8(e), 12 U.S.C. § 1818(e).
| Employer | Individual | Location | Regulator | Order # | Date |
| The Bank | Jason W. Shaw | Woodbury, N.J. | FDIC | FDIC-09-564e | July 21 |
| BankPlus | Charles K. Payne | Belzoni, Miss. | FDIC | FDIC-09-040e | July 21 |
| Coatesville Savings Bank | James D. Ziegler | Coatesville, Pa. | FDIC | FDIC-10-236e | July 21 |
| Enterprise Bank and Trust Co. | David R. Nolan | Lowell, Mass. | FDIC | FDIC-10-156e | July 22 |
| FNBT.COM BANK.COM | Rita M. Richardson | Fort Walton Beach, Fla. | FDIC | FDIC-10-110e | July 21 |
| First United Bank & Trust | Jeremy T. Brooks | Oakland, Md. | FDIC | FDIC-10-237e | July 30 |
| First State Bank, Minnesota | Gerald A. Payne | Le Roy, Minn. | FDIC | FDIC-09-385e | July 21 |
| Gulf Coast Bank and Trust | Keith Ann Stopa | New Orleans | FDIC | FDIC-09-433e | July 21 |
| Hancock Bank | Pamela K. Swilley | Gulfport, Miss. | FDIC | FDIC-09-568e | July 30 |
| International Bank of Commerce | Norma Vargas | Laredo, Texas | FDIC | FDIC-09-719e | July 21 |
| Interstate Bank SSB | Kathy Cluck | Perryton, Texas | FDIC | FDIC-09-738e | July 22 |
| North Penn Bank | Glenn J. Clark | Scranton, Pa. | FDIC | FDIC-10-191e | July 30 |
The FDIC issues final orders, civil money penalties, pursuant to Section 8(i), 12 U.S.C. § 1818(i).
| Company | Location | Regulator | Order/Docket No. | Amount | Date |
| AbbyBank | Abbotsford, Wis. | FDIC | FDIC-10-242k | $7,000 | July 7 |
| AbbyBank | Abbotsford, Wis. | FDIC | FDIC-10-243k | $8,500 | July 7 |
| Affinity Bank of Pennsylvania | Wyomissing, Pa. | FDIC | FDIC-10-269k | $5,500 | July 22 |
| Ann Arbor State Bank | Ann Arbor, Mich. | FDIC | FDIC-10-267k | $800 | July 1 |
| Clayton Bank and Trust | Knoxville, Tenn. | FDIC | FDIC-10-422k | $10,000 | July 21 |
| Enterprise Bank and Trust Co. | Lowell, Mass. | FDIC | FDIC-10-157k | $1,000 | July 22 |
| First Southern Bank | Columbia, Miss. | FDIC | FDIC-10-420k | $10,000 | July 20 |
| First State Bank Minnesota against Gerald A. Payne | Le Roy, Minn. | FDIC | FDIC-09-386k | $30,000 | July 21 |
| Glennville Bank | Glennville, Ga. | FDIC | FDIC-10-270k | $7,000 | July 28 |
| Gulf Coast Bank and Trust against Keith Ann Stopa | New Orleans | FDIC | FDIC-09-434k | $10,000 | July 21 |
| Texas Star Bank | Van Alstyne, Texas | Federal Reserve Board | 10-103-CMP-SM | $3.850 | Aug. 13 |
| Town Square Bank Inc. | Ashland, Ky. | FDIC | FDIC-10-260k | $1,250 | July 2 |
| Transportation Alliance Bank | Ogden, Utah | FDIC | FDIC-09-733k | $97,500 | July 21 |
| Tri-State Bank of Memphis | Memphis, Tenn. | FDIC | FDIC-10-418k | $4,000 | July 14 |
| Vermillion State Bank | Vermillion, Minn. | FDIC | FDIC-10-113k | $9,800 | July 21 |
| West Bank | West Des Moines, Iowa | FDIC | FDIC-10-125k | $15,500 | July 12 |
Prompt corrective actions were issued by the FDIC pursuant to Section 38, 12 U.S.C. § 1831o.
| Company | Location | Regulator | Order/Docket No. | Date |
| Palos Bank and Trust Co. | Palos Heights, Ill. | FDIC | FDIC-10-456PCAS | July 14 |
| Paramount Bank | Farmington Hills, Mich. | Federal Reserve Board | 10-158-PCA-SM | Aug. 9 |
| Sunrise Bank | Cocoa Beach, Fla. | Federal Reserve Board | 10-181-PCA-SM | Aug. 26 |
FDIC granted final orders pursuant to Section 19, 12 U.S.C. § 1829, which give permission to file an application and approves the application for consent to participate in the affairs of any insured depository institution.
| Individual | Regulator | Order/Docket No. | Date |
| Burk, Petra Alexandra | FDIC | FDIC-10-222L | July 28 |
| Garber, Richard Allan | FDIC | FDIC-10-225L | July 13 |
| Haymore, Travis D. | FDIC | FDIC-10-126L | July 27 |
| Smith, Lincoln T. | FDIC | FDIC-09-661L | July 20 |
| Tranetzki Brian | FDIC | FDIC-10-171L | July 28 |
| Woodson, Corey Charles | FDIC | FDIC-10-283L | July 13 |
An Order Accepting Partial Satisfaction of Cross Guarantee Liability and Conditionally Granting Approval for Waiver of Cross Guarantee Liability (No. FDIC-09-739kk) was issued against The Bank in Weatherford, Texas on July 15 by the FDIC.
A Notice of Intention to Prohibit From Further Participation (order No. FDIC-10-335e) was issued by the FDIC on July 20 against Arlene Shih of Chinatrust Bank (U.S.A.) in Torrance, Calif.
On July 21, Howard R. Palmer of American Bank Center in Dickinson, N.D., was hit with a Notice of Intention to Prohibit From Further Participation and Notice of Assessment of Civil Money Penalty, Findings of Fact and Conclusions of Law, Order to Pay, and Notice of Hearing (No. FDIC-09-205e; FDIC-09-206k).
