Banks faced fewer actions by the Federal Deposit Insurance Corp. for the second consecutive month, though orders exceeded activity a year earlier.
Matters handled by the Federal Deposit Insurance Corp. eased for the second consecutive month to 62 during May. Activity was higher in April at 76 actions and lower a year earlier at 43.
Including in the FDIC’s actions were the following cease-and-desist orders. Bank failures are often preceded by such orders.
Cease-and-Desist Orders
| Company | Location | Regulator | Order/Docket No. | Date |
| America California Bank | San Francisco | FDIC | FDIC-10-287b | May 14 |
| Bank of Choice | Greeley, Colo. | FDIC | FDIC-10-142b | May 6 |
| Bank of Florida – Southwest | Fort Lauderdale, Fla. | FDIC | FDIC-09-587b | May 21 |
| Bank of Florida – Southwest | Naples Fla. | FDIC | FDIC-09-586b | May 21 |
| Bank of Florida – Tampa Bay | Tampa, Fla. | FDIC | FDIC-09-588b | May 20 |
| Bank of Monticello | Monticello, Ga. | FDIC | FDIC-10-258b | May 27 |
| Builders Bank | Chicago | FDIC | FDIC-09-617b | May 27 |
| Butte Community Bank | Chico, Calif. | FDIC | FDIC-10-097b | May 18 |
| Citizens Bank of Effingham | Springfield, Ga. | FDIC | FDIC-10-102b | May 4 |
| Columbus Community Bank | Columbus, Ga. | FDIC | FDIC-10-135b | May 25 |
| Congaree State Bank | West Columbia, S.C. | FDIC | FDIC-10-047b | May 14 |
| Eagle Community Bank | Maple Grove, Minn. | FDIC | FDIC-10-164b | May 27 |
| Ericson State Bank | Ericson, Neb. | FDIC | FDIC-10-230b | May 20 |
| First CornerStone Bank | King of Prussia, Pa. | FDIC | FDIC-10-151b | May 12 |
| First Vietnamese American Bank | Westminster, Calif. | FDIC | FDIC-10-248b | May 25 |
| Glasgow Savings Bank | Glasgow, Mo. | FDIC | FDIC-10-282b | May 26 |
| HomeStar Bank and Financial Services | Manteno, Ill. | FDIC | FDIC-09-580b | May 24 |
| Monarch Community Bank | Coldwater, Mich. | FDIC | FDIC-10-190b | May 6 |
| Nova Bank | Berwyn, Pa. | FDIC | FDIC-10-210b | May 7 |
| Pine River Valley Bank | Bayfield, Colo. | FDIC | FDIC-10-284b | May 26 |
| Pineland State Bank | Metter, Ga. | FDIC | FDIC-10-211b | May 27 |
| Pisgah Community Bank | Asheville, N.C. | FDIC | FDIC-10-280b | May 5 |
| Premier Bank | Tallahassee, Fla. | FDIC | FDIC-10-074b | May 5 |
| Sonoma Valley Bank | Sonoma, Calif. | FDIC | FDIC-10-249b | May 18 |
| South Georgia Bank | Glennville, Ga. | FDIC | FDIC-10-165b | May 5 |
| Superior Bank | Hazelwood, Mo. | FDIC | FDIC-10-229b | May 26 |
| The Equitable Bank, SSB | Wauwatosa, Wis. | FDIC | FDIC-10-099b | May 14 |
| The First Bank of Greenwich | Cos Cob, Conn. | FDIC | FDIC-10-323b | May 17 |
| Traverse City State Bank | Traverse City, Mich. | FDIC | FDIC-10-131b | May 26 |
| Tri Valley Bank | San Ramon, Calif. | FDIC | FDIC-10-293b | May 24 |
Orders Terminating Cease-and-Desist Orders
| Company | Location | Regulator | Order/Docket No. | Date |
| Arcola Homestead Savings Bank | Arcola, Ill. | FDIC | FDIC-09-078b | May 27 |
| BankHaven | Haven, Kan. | FDIC | FDIC-08-108b | May 28 |
| Citizens State Bank of Lankin | Lankin, N.D. | FDIC | FDIC-07-01b | May 20 |
| De Witt State Bank | De Witt, Neb. | FDIC | FDIC-09-442b | May 20 |
| The Farmers Bank | Lincoln, Neb. | FDIC | FDIC-09-060b | May 20 |
| Paragon Bank & Trust | Holland, Mich. | FDIC | FDIC-09-352b | May 6 |
| State Bank of Aurora | Aurora, Minn. | FDIC | FDIC-09-026b | May 26 |
Banks that enter formal agreements are often required to increase capital, improve operations and sometimes change management. The Federal Reserve Board announced the following 12 formal agreements.
Formal Agreements
| Company | Location | Regulator | Order/Docket No. | Date |
| BNB Financial Services Corp. | New York | Federal Reserve Bank of New York | 10-060-WA/RB-HC | June 22 |
| Cecil Bancorp Inc., Cecil Bank | Elkton, Md. | Federal Reserve Bank of Richmond, State of Maryland Commissioner of Financial Regulation | 10-044 -WA/RB-HC, 10-044 -WA/RB-SM | June 29 |
| Central Virginia Bancshares, Inc., Powhatan, Virginia, a registered bank holding company, its subsidiary bank, Central Virginia Bank | Powhatan, Virginia | Federal Reserve Bank of Richmond; Virginia State Corporation Commission, Bureau of Financial Institutions | 10-068 -WA/RB-HC, 10-068 -WA/RB-SM | June 30 |
| Citizens Bancshares Co. | Chillicothe, Mo. | Federal Reserve Bank of Kansas City | 10-124-WA/RB-HC | June 21 |
| First Capital West Bankshares Inc. | Laramie, Wyo. | Federal Reserve Bank of Kansas City | 10-100-WA/RB-HC | June 7 |
| Greensburg Bancshares Inc. | Greensburg, La. | Federal Reserve Bank of Atlanta, Louisiana Office of Financial Institutions | 10-114-WA/RB-HC | June 18 |
| Mission Oaks Bancorp | Temecula, Calif. | Federal Reserve Bank of San Francisco | 10-096-WA/RB-HC | June 1 |
| NBN Corp. | Newport, Tenn. | Federal Reserve Bank of Atlanta | 10-137-WA/RB-HC | June 22 |
| OptimumBank Holdings Inc. | Fort Lauderdale, Fla. | Federal Reserve Bank of Atlanta | 10-133-WA/RB-HC | June 22 |
| Smithtown Bancorp Inc. | Hauppauge, N.Y. | Federal Reserve Bank of New York | 10-076-WA/RB-HC | June 22 |
| Star Bancorp Inc. | Scottsdale, Ariz. | Federal Reserve Bank of San Francisco | 10-118 -WA/RB-HC | June 30 |
| Waccamaw Bankshares Inc., Waccamaw Bank | Whiteville, N.C. | Federal Reserve Bank of Richmond; State of North Carolina, Office of the Commissioner of Banks | 10-105-WA/RB-HC, 10-105-WA/RB-SM | June 14 |
The following three individuals were banned from banking.
Removal / Prohibition Orders
| Employer | Individual | Location | Regulator | Order # | Date |
| Citizens Bank of Pennsylvania | Trena M. Smith | Philadelphia | FDIC | FDIC-10-197e | May 20 |
| Commerce Bank & Trust Co., 1-800-EAST-WEST MORTGAGE CO. | John F. Gallagher | Worcester, Mass. | FDIC | FDIC-08-327e | May 20 |
| TotalBank | Antoinette Rios | Miami | FDIC | FDIC-09-729e | May 20 |
The FDIC and the Fed issued final orders as outlined in the tables below.
Final Orders – Civil Money Penalties
| Company | Location | Regulator | Order/Docket No. | Amount | Date |
| Bank of Monticello | Monticello, Ga. | FDIC | FDIC-10-136k | $5,600 | May 11 |
| Bank of Nevada | Las Vegas | FDIC | FDIC-10-261k | $2,350 | May 7 |
| Bank of the West | San Francisco | FDIC | FDIC-10-253k | $68,200 | May 3 |
| Blackhawk Bank & Trust | Milan, Ill. | FDIC | FDIC-09-075k | $3,325 | May 12 |
| Chinatrust Bank (U.S.A.) | Torrance, Calif. | FDIC | FDIC-10-254k | $2,000 | May 14 |
| Commerce Bank & Trust Co. and 1-800-EAST-WEST MORTGAGE CO.; against John F. Gallagher | Worcester, Mass. | FDIC | FDIC-08-328k | $150,000 | May 20 |
| Eurobank | San Juan, P.R. | FDIC | FDIC-10-193k | $25,000 | April 22 |
| Farmers and Merchants Union Bank | Columbus, Wis. | FDIC | FDIC-09-674k | $5,500 | May 18 |
| Saehan Bank | Los Angeles | FDIC | FDIC-10-255k | $2,200 | May 7 |
| Security State Bank | Waverly, Iowa | FDIC | FDIC-10-141k | $2,000 | May 11 |
| The Bank of Harlan | Harlan, Ky. | FDIC | FDIC-09-034k | $8,315 | May 25 |
| The Bank of New Glarus | New Glarus, Wis. | FDIC | FDIC-10-232k | $5,400 | May 12 |
| The Coastal Bank of Georgia | Brunswick, Ga. | FDIC | FDIC-10-396k | $74,580 | May 28 |
Final Orders – Prompt Corrective Actions
| Company | Location | Regulator | Order/Docket No. | Date |
| Badger State Bank | Cassville, Wis. | FDIC | FDIC-10-316PCAS | May 5 |
| Butte Community Bank | Chico, Calif. | FDIC | FDIC-10-334PCAS | May 3 |
| Blue Ridge Savings Bank Inc. | Asheville, N.C. | FDIC | FDIC-10-333PCAS | May 28 |
| Legacy Bank | Scottsdale, Ariz. | FDIC | FDIC-10-354PCAS | May 24 |
| LibertyBank | Eugene, Ore. | FDIC | FDIC-10-361PCAS | May 14 |
| Ravenswood Bank | Chicago | FDIC | FDIC-10-286PCAS | May 6 |
| Shoreline Bank | Shoreline, Calif. | FDIC | FDIC-10-387PCAS | May 27 |
| SouthwestUSA Bank | Las Vegas | FDIC | FDIC-10-343PCAS | May 7 |
| Thunder Bank | Sylvan Grove, Kan. | Federal Reserve Board | 10-123-PCA-SM | June 21 |
An Order (FDIC-09-759L) Granting Permission to File Section 19 Application and Approving Application for Consent to Participate in the Affairs of any Insured Depository Institution was issued on May 5 to Jeff Lee Benitez by the FDIC.
