Several individuals — including three who were convicted — have been banned from working at federally insured financial institutions. More than 10 banks recently entered formal agreements with federal regulators.
The Federal Reserve Board issued a Prompt Corrective Action Directive (Docket No. 09-185-PCA-SM) on Nov. 9 against Orion Bank in Naples, Fla.
Formal agreements were reached between the following institutions and their respective regulators. Such agreements often require the preservation of capital, changes in lending policies and progress reports. Some require management changes.
| Company | Location | Regulator | Order/Docket No. | Date |
| Allegiance Bank of North America | Bala Cynwyd, Pa. | Federal Deposit Insurance Corporation | na | na |
| Blue Valley Ban Corp., Bank of Blue Valley | Overland Park, Kan. | Federal Reserve Bank of Kansas City | 09-143-WA/RB-HC, 09-143-WA/RB-SM | Nov. 4 |
| Butler Bancorp, MHC; Butler Bancorp Inc. | Lowell, Mass. | Federal Reserve Bank of Boston | 09-132-WA/RB-HC | Oct. 20 |
| Campello Bancorp | Brockton, Mass. | Federal Reserve Bank of Boston | 09-122-WA/RB-HC | Nov. 11 |
| Flagler Bank | West Palm Beach, Fla. | Federal Reserve Bank of Atlanta, State of Florida Office of Financial Regulation | 09-155-WA/RB-HC, 09-155-WA/RB-SM, OFR Administrative File No. 0685-FI-10/09 | Nov. 1 |
| FMB Bancshares Inc. | Lakeland, Ga. | Federal Reserve Bank of Atlanta, Banking Commissioner of the State of Georgia | 09-161-WA/RB-HC | Nov. 11 |
| Horizon Bank | Bradenton, Fla. | State of Florida Office of Financial Regulation, Federal Reserve Bank of Atlanta | 09-146-WA/RB-SM, OFR Proceeding No. 0676-FI-09/09 | Nov. 10 |
| Landmark Financial Holding Co., Landmark Bank of Florida | Sarasota, Fla. | Federal Reserve Bank of Atlanta, State of Florida Office of Financial Regulation | 09-156-WA/RB-HC, 09-156-WA/RB-SM, OFR Administrative File No. 0683-FI-10/09 | Nov. 5 |
| Middle Georgia Corp. | Ellaville, Ga. | Federal Reserve Bank of Atlanta, Banking Commissioner of the State of Georgia | 09-134-WA/RB-HC | Nov. 6 |
| Pacific Coast National Bancorp | San Clemente, Calif. | Federal Reserve Bank of San Francisco | 09-160-WA/RB-HC | Nov. 5 |
| West Concord Bancshares Inc., Farmers State Bank of West Concord | West Concord, Minn. | Federal Reserve Bank of Minneapolis | 09-092-WA/RB-HC, 09-092-WA/RB-SM | Nov. 6 |
The National Credit Union Administration Board announced that prohibition orders were issued against the following individuals. The orders, which cost $1 million if violated, prohibit further participation in the affairs of any federally insured financial institution.
| Individual | Former Position | Former Employer | Location | Notes |
| Bowers Jr., Donald | manager | 1st United Labor Federal Credit Union | Louisville, Ky. | Signed order to avoid time and cost of administrative litigation. Didn’t admit or deny fault. |
| Franco, Jessica | loan officer | Navy Army Federal Credit Union | Corpus Christi, Texas | Convicted of aiding and abetting a false statement on a federal credit union loan or credit application and sentenced to 5 years probation and ordered to pay a $2,000 fine and a $100 assessment. |
| Gonzalez, Ana | head teller | Southland Federal Credit Union | Lufkin, Texas | Signed order to avoid time and cost of administrative litigation. Didn’t admit or deny fault. |
| Hitt, Tracey Michelle Reese | employee | Magnolia Federal Credit Union | Jackson, Miss. | Signed order to avoid time and cost of administrative litigation. Didn’t admit or deny fault. |
| Jones, Anthony C. | vice president | State Department FCU | Alexandria, Va. | Convicted of credit union theft, embezzlement or misapplication of more than $1,000 and sentenced to 21 months in prison, 3 years of supervised probation and ordered to pay $122,067 in restitution. |
| Pushnik, Christina | former teller | Stanwood Area Federal Credit Union | New Stanton, Pa. | Convicted of property theft and sentenced to two years supervised probation. |
