Federal banking regulators appeared to maintain their rapid pace of regulatory actions. The fourth quarter is shaping up to be a whopper.
The Federal Deposit Insurance Corporation reported that it processed 51 matters during Nov. — including 34 cease-and-desist orders, nine civil money penalties and three prompt corrective action directives.
Bank failures are often preceded by cease-and-desist orders, which were issued against the following institutions by the FDIC, the Federal Reserve, the Office of the Comptroller of the Currency and the Office of Thrift Supervision.
Company | Location | Regulator | Order/Docket No. | Date |
Advanta Bank Corp. | Draper, Utah | FDIC | FDIC-09-651b | Nov. 24 |
Affinity Financial Corp. | Irvine, Calif. | OTS | SE-09-046 | Oct. 1 |
Allegiance Bank of North America | Bala Cynwyd, Pa. | FDIC | FDIC-09-525b | Nov. 4 |
American Continental Bank | City of Industry, Calif. | FDIC | FDIC-09-658b | Nov. 30 |
American Marine Bank | Bainbridge Island, Wash. | FDIC | FDIC-09-445b | Nov. 4 |
American Trust & Savings Bank | Whiting, Ind. | FDIC | FDIC-09-511b | Nov. 24 |
Appalachian Community Bank, F.S.B. | McCaysville, Ga. | OTS | SE-09-061 | Dec. 30 |
Arrowhead Community Bank | Glendale, Ariz. | FDIC | FDIC-09-393b | Nov. 10 |
Bank of Ellijay | Ellijay, Ga. | FDIC | FDIC-09-338b | Nov. 24 |
Bank of Shorewood | Shorewood, Ill. | FDIC | FDIC-09-392b | Nov. 24 |
The Bank of Washington | Lynnwood, Wash. | FDIC | FDIC-09-415b | Nov. 18 |
Bayside Savings Bank | Port St. Jo, Fla. | OTS | SE 09-060 | Dec. 22 |
Beach First National Bank | Myrtle Beach, S.C. | OCC | AA-EC-09-73 | Nov. 4 |
Canon National Bank | Canon City, Colo. | OCC | AA-WE-09-89 | Nov. 24 |
CFS Corporation of Delaware | El Paso, Texas | OTS | WN 09-030 | Oct. 7 |
CFS Financial Corp. | El Paso, Texas | OTS | WN 09-029 | Oct. 7 |
Charter Bank | Santa Fe, N.M. | OTS | WN-09-042 | Nov. 20 |
Charter Companies Inc. | Albuquerque, N.M. | OTS | WN-09-038 | Nov. 20 |
Colombo Bank | Rockville, Md. | OTS | SE 09-050 | Oct. 28 |
Community Bank of Manatee | Lakewood Ranch, Fla. | FDIC | FDIC-09-569b | Nov. 25 |
De Witt State Bank | De Witt, Neb. | FDIC | FDIC-09-442b | Nov. 10 |
Edgewater Bank | St. Joseph, Mich. | OTS | CN 09-40 | Oct. 20 |
Equity Bank, SSB | Dallas | FDIC | FDIC-09-524b | Nov. 12 |
EvaBank | Eva, Ala. | FDIC | FDIC-09-341b | Nov. 18 |
The Exchange Bank | Skiatook, Okla. | FDIC | FDIC-09-439b | Nov. 5 |
Family Federal Savings of IL | Cicero, Ill. | OTS | CN 09-42 | Nov. 20 |
FASLA Holding Company | Scottsdale, Ariz. | OTS | WN 09-034 | Nov. 2 |
First Arizona Savings, a FSB | Scottsdale, Ariz. | OTS | WN 09-033 | Nov. 2 |
First Bank of Dalton | Dalton, Ga. | FDIC | FDIC-09-413b | Nov. 17 |
First Bank of Jacksonville | Jacksonville, Fla. | FDIC | FDIC-09-355b | Nov. 10 |
First Community Bank, N.A. | Sugar Land, Texas | OCC | 2009-191 | Nov. 19 |
First Federal Bank of North Florida | Palataka, Fla. | OTS | SE-09-055 | Nov. 13 |
First National Bank in Pawhuska | Pawhuska, Okla. | OCC | 2009-168 | Oct. 22 |
First National Bank of Jasper | Jasper, Texas | OCC | 2009-169 | Oct. 8 |
First National Bank of Crossett | Crossett, Ark. | OCC | 2009-182 | Nov. 10 |
First National Bank of Griffin | Griffin, Ga. | OCC | 2009-187 | Nov. 10 |
First National Bank of The Rockies | Grand Junction, Colo. | OCC | AA-WE-09-81 | Nov. 5 |
Grand Mountain Bancshares Inc. | Granby, Colo. | OTS | WN 09-037 | Nov. 9 |
Grand Mountain Bank, FSB | Granby, Colo. | OTS | WN 09-036 | Nov. 9 |
Gulf State Community Bank | Carrabelle, Fla. | FDIC | FDIC-09-520b | Nov. 20 |
Harrington West Financial Group Inc. | Solvang, Calif. | OTS | WN-09-032 | Oct. 14 |
Heritage Bank of Central Illinois | Trivoli, Ill. | FDIC | FDIC-09-329b | Nov. 2 |
High Desert Bank | Bend, Ore. | OTS | CN 09-45 | Dec. 29 |
High Trust Bank | Stockbridge, Ga. | FDIC | FDIC-09-486b | Nov. 20 |
Independent National Bank | Ocala, Fla. | OCC | 2009-186 | Nov. 4 |
Key West Bancgroup Inc. | Key West, Fla. | OTS | SE-09-053 | Nov. 12 |
Key West Bank | Key West, Fla. | OTS | SE-09-054 | Nov. 12 |
Lakeside Community Bank | Sterling Heights, Mich. | FDIC | FDIC-09-326b | Nov. 18 |
Lamplighter Financial, MHC | Wausatosa, Wis. | OTS | CN 09-44 | Dec. 1 |
Legacy Bank | Scottsdale, Ariz. | FDIC | FDIC-09-321b | Nov. 16 |
Liberty Bancshares Florida Inc. | West Des Moines, Iowa | OTS | CN 09-33 | Oct. 14 |
Liberty Bank | Naples, Fla. | OTS | CN 09-32 | Oct. 14 |
Liberty Capital Inc. | Wilmington, Ohio | OTS | CN 09-37 | Oct. 19 |
Liberty Savings Bank, FSB | Wilmington, Ohio | OTS | CN 09-36 | Oct. 19 |
Lincoln Federal Bancorp Inc. | Lincoln, Neb. | OTS | CN 09-29 | Oct. 6 |
Lincoln Federal Bancorp, MHC | Lincoln, Neb. | OTS | CN 09-30 | Oct. 6 |
Lincoln Federal Savings Bank of Nebraska | Lincoln, Neb. | OTS | CN 09-28 | Oct. 6 |
Los Padres Bank | Solvang, Calif. | OTS | WN-09-031 | Oct. 14 |
Maritime Savings Bank | West Allis, Wis. | OTS | CN 09-41 | Nov. 6 |
Marshall Bank, N.A. | Hallock, Minn. | OCC | AA-EC-08-75, AA-EC-08-16 | Nov. 9 |
Mid City Bank Inc. | Omaha, Neb. | FDIC | FDIC-09-508b | Nov. 20 |
Nevada Commerce Bank | Las Vegas | FDIC | FDIC-09-522b | Nov. 20 |
Northwest Georgia Bank | Ringgold, Ga. | FDIC | FDIC-09-234b | Nov. 20 |
OceanFirst Bank | Toms River, N.J. | OTS | ND 09-034 | Nov. 19 |
Pacific Valley Bank | Salinas, Calif. | FDIC | FDIC-09-556b | Nov. 24 |
Paragon Bank & Trust | Holland, Mich. | FDIC | FDIC-09-352b | Nov. 10 |
Park View Federal Savings Bank | Solon, Ohio | OTS | CN 09-34 | Oct. 19 |
Peninsula Bank | Englewood, Fla. | FDIC | FDIC-09-498b | Nov. 20 |
Piedmont Community Bank | Gray, Ga. | FDIC | FDIC-08-348b | Nov. 24 |
Plantation FSB | Pawleys Island, S.C. | OTS | SE 09-045 | Nov. 9 |
PVF Capital Corp. | Solon, Ohio | OTS | CN 09-35 | Oct. 19 |
Regal Financial Bank | Seattle | FDIC | FDIC-09-558b | Nov. 30 |
Riverside National Bank of Florida | Fort Pierce, Fla. | OCC | AA-EC-09-80 | Nov. 10 |
San Luis Trust Bank, FSB | San Luis Obispo, Calif. | OTS | WN 09-035 | Nov. 2 |
Second Federal Savings and Loan Association of Chicago | Chicago | OTS | CN 09-31 | Oct. 13 |
Signature Bank | Windsor, Colo. | FDIC | FDIC-09-438b | Oct. 22 |
TCB Financial Inc. | Tomahawk, Wis. | OTS | CN 09-38 | Oct. 19 |
TCB Mutual Holding Co. | Tomahawk, Wis. | OTS | CN 09-39 | Oct. 19 |
Tomahawk Community Bank S.S.B. | Tomahawk | FDIC | FDIC-09-204b | Nov. 6 |
Torrey Pines Bank | San Diego | FDIC | FDIC-09-448b | Nov. 16 |
United Bank & Trust Co. | Versailles, Ky. | FDIC | FDIC-09-485b | Nov. 18 |
Viking Bank | Seattle | FDIC | FDIC-09-364b | Nov. 4 |
Waterfield Bank | Germantown, Md. | OTS | SE-09-047 | Oct. 1 |
Waterstone Financial Inc. | Wauwatosa, Wis. | OTS | CN 09-43 | Dec. 1 |
Western Springs National Bank and Trust | Western Springs, Ill. | OCC | 2009-188 | Nov. 19 |
The OTS said it terminated a cease-and-desist order against Golden First Bank, while the FDIC terminated a cease-and-desist order against Prosperan Bank in Oakdale, Minn.
Formal agreements — which can require conservation of capital, improvements to lending operations and compliance or a change in management — were recently reached with the following institutions.
Company | Location | Regulator | Order/Docket No. | Date |
AMB Financial Services Corp. | Bainbridge Island, Wash. | Federal Reserve Bank of San Francisco | 09-180-WA/RB-HC | Dec. 1 |
Bank of Indiana, National Association | Dana, Ind. | OCC | 2009-199 | Nov. 6 |
Beach First National Bank | Myrtle Beach, S.C. | OCC | 2009-190 | Nov. 4 |
Canyon Bancorp | Palm Springs, Calif. | Federal Reserve Bank of San Francisco | 09-199-WA/RB-HC | Dec. 15 |
Centrue Financial Corp. | Clayton, Mo. | Federal Reserve Bank of Chicago, Illinois Department of Financial and Professional Regulation, Division of Banking | 09-192-WA/RB-HC, 09-192-WA/RB-SM-DB-106 | Dec. 18 |
Centrust Bank, N.A. | Northbrook, Ill. | OCC | 2009-197 | Nov. 17 |
Coastal Bancorporation Inc. | Merritt Island, Fla. | OTS | SA | Dec. 31 |
Coastal Bank | Merritt Island, Fla. | OTS | SA | Dec. 31 |
The Community National Bank | Franklin, Ohio | OCC | 2009-181 | Oct. 19 |
The Community National Bank | Franklin, Ohio | OCC | 2009-176 | Oct. 19 |
Cornerstone Bank & Trust, N.A. | Carrollton, Ill. | OCC | 2009-196 | Nov. 24 |
Eagle National Bank | Upper Darby, Pa. | OCC | 2009-177 | Oct. 15 |
Eastern Federal Bank | Norwich, Conn. | OTS | SA | Nov. 4 |
Evergreen National Bank | Evergreen, Colo. | OCC | 2009-173 | Oct. 27 |
First Bank Richmond, N.A. | Richmond, Ind. | OCC | 2009-200 | Oct. 26 |
First Glades Corp. | Clewiston, Fla. | OTS | SA | Oct. 9 |
First Missouri National Bank | Brookfield, Mo. | OCC | 2009-174 | Oct. 22 |
The First National Bank and Trust Company of Rochelle | Rochelle, Ill. | OCC | 2009-198 | Nov. 17 |
First National Bank in Pawhuska | Pawhuska, Okla. | OCC | 2009-211 | Oct. 22 |
First National Bank of Griffin | Griffin, Ga. | OCC | 2009-209 | Nov. 10 |
First National Bank of The Rockies | Grand Junction, Colo. | OCC | 2009-208 | Nov. 6 |
The First National Bank of Wynne | Wynne, Ark. | OCC | 2009-172 | Oct. 6 |
First National Bank & Trust of Syracuse, Nebraska | Syracuse, Neb. | OCC | 2009-202 | Nov. 2 |
Heritage Bank, N.A. | Holstein, Iowa | OCC | 2009-201 | Oct. 30 |
Johnson Holdings Inc., East Central Holding Company Inc. | Ramsey, Minn. | Federal Reserve Bank of Minnesota | 09-187-WA/RB-HC | Dec. 17 |
Liberty National Bank | Lawton, Okla. | OCC | 2009-210 | Nov. 5 |
Midwest Banc Holdings Inc., Midwest Bank and Trust Co | Melrose Park and Elmwood Park, Ill. | Federal Reserve Bank of Chicago, and the Illinois Department of Financial and Professional Regulation Division of Banking | 09-190-WA/RB-HC, 09-190-WA/RB-SM-DB-102 | Dec. 18 |
Modern Bank, N.A. | New York | OCC | 2009-175 | Oct. 27 |
Olde Cypress Community Bank | Clewiston, Fla. | OTS | SA | Oct. 9 |
Phoenixville Federal Bank and Trust | Phoenixville, Pa. | OTS | SA | Dec. 8 |
Riverside National Bank of Florida | Fort Pierce, Fla. | OCC | 2009-185 | Nov. 10 |
Severn Bancorp Inc. | Annapolis, Md. | OTS | SA | Nov. 23 |
Severn Savings Bank, FSB | Annapolis, Md. | OTS | SA | Nov. 23 |
Sterling Financial Corp. | Spokane, Wash. | Federal Reserve Bank of San Francisco | 09-207-WA/RB-HC | Dec. 24 |
West Coast Bancorp | Lake Oswego, Ore. | Federal Reserve Bank of San Francisco, Oregon Department of Consumer and Business Services, Division of Finance and Corporate Securities | 09-181-WA/RB-HC | Dec. 18 |
Williamsburg First National Bank | Kingstree, S.C. | OCC | 2009-178 | Oct. 14 |
A supervisory agreement was terminated by the OTS against Second Federal Savings and Loan Association of Chicago.
The following removal and prohibition orders were reported.
Individual | Employer | Location | Regulator | Order # | Date |
Tamms-Klett, Pamela J. | Bank Mutual | Brown Deer, Wis. | OTS | DC 09-021 | Dec. 29 |
Hager, Eleanor | Coastal Bank | Merritt Island, Fla. | OTS | SE 09-057 | Nov. 30 |
Hallmark, Bridgettte S. | First Federal Bank | Harrison, Ariz. | OTS | DC 09-010 | Dec. 1 |
Katzfey, Daniel | First Home Savings Bank | Mountain Grove, Mo. | OTS | WN 09-041 | Nov. 18 |
Carpenter, Ann Marie | First Niagara Bank | Lockport, N.Y. | OTS | DC 09-011 | Dec. 1 |
Kelly, James P. | Flagstar Bank, FSB | Troy, Mich. | OTS | DC 09-014 | Dec. 8 |
Orr, Leland G. | Generations Bank | Phillipsburg, Kan. | OTS | WN-09-39 | Nov. 18 |
Post, Rebecca D. | Generations Bank | Phillipsburg, Kan. | OTS | WN-09-043 | Dec. 16 |
Orr, Robert D. | Generations Bank | Phillipsburg, Kan. | OTS | WN-09-40 | Nov. 18 |
Faithauer, Anthony Brent | Guaranty FS & LA | Dallas | OTS | DC 09-020 | Dec. 29 |
Welch, Michelle L. | Heritage Bank | Hopkinsville, Ky. | OTS | DC 09-009 | Oct. 20 |
Reilly, Shannon L. | Liberty Savings Bank, FSB | Wilmington, Ohio | OTS | DC09-016 | Dec. 17 |
Lang, Sally M. | Midcountry Bank | Marion, Ill. | OTS | SE 09-058 | Dec. 2 |
Murray, Tara | People’s United Bank | Birdgeport, Conn. | OTS | DC 09-019 | Dec. 29 |
Tyler, Patricia A. | Plantation Federal Savings Bank | Pawleys Island, S.C. | OTS | SE 09-048 | Oct. 9 |
Rayat, Ravinder | Sovereign Bank | Wyomissing, Pa. | OTS | DC 09-024 | Dec. 29 |
Vazquez, Tatianna | Sovereign Bank | Wyomissing, Pa. | OTS | DC 09-017 | Dec. 29 |
Dickerson, Janine | Superior Bank | Birmingham, Ala. | OTS | DC 09-018 | Dec. 29 |
Hoerle, Kristin M. | TierOne Bank | Lincoln, Neb. | OTS | DC 09-022 | Dec. 29 |
Walker, Allen | Washington Mutual Bank | Henderson, Nev. | OTS | DC09-015 | Dec. 9 |
Mitchell, Karla D | Washington Mutual Bank | Henderson, Nev. | OTS | DC 09-012 | Dec. 1 |
Sansberry, Mikeeda R. | Washington Mutual Bank | Henderson, Nev. | OTS | DC 09-023 | Dec. 29 |
Diem Nguyen, Sheryn | Washington Mutual Bank | Henderson, Nev. | OTS | DC09-013 | Dec. 4 |
Regulators announced that the following civil money penalties were issued.
Company / Individual | Location | Regulator | Order/Docket No. | Date | Amount |
AFB&T | Athens, Ga. | FDIC | FDIC-09-540k | Nov. 9 | $7,040 |
The Casey County Bank Inc. | Liberty, Ky. | FDIC | FDIC-09-180k | Nov. 4 | $2,350 |
Coatesville Savings Bank | Coatesville, Pa. | FDIC | FDIC-09-591k | Nov. 24 | $5,500 |
Commercial State Bank | Andrews, Texas | FDIC | FDIC-09-532k | Nov. 9 | $20,535 |
Domestic Bank | Cranston, R.I. | OTS | NE-09-36 | Dec. 16 | na |
Marshall Bank, N.A. | Hallock, Minn. | OCC | AA-EC-08-75, AA-EC-08-16 | Nov. 9 | $350,000 |
Maynard Savings Bank | Maynard, Iowa | FDIC | FDIC-09-504k | Nov. 13 | $1,925 |
Meridian Bank | Paoli, Pa. | FDIC | FDIC-09-555k | Nov. 23 | $2,370 |
OceanFirst Bank | Toms River, N.J. | OTS | NE 09-035 | Nov. 19 | na |
Security Bank | Rich Hill, Mo. | FDIC | FDIC-09-466k | Nov. 17 | $4,000 |
West Pointe Bank | Oshkosh, Wis. | FDIC | FDIC-07-204k | Nov. 23 | $15,950 |
Wyoming Bank and Trust | Cheyenne, Wyo. | FDIC | FDIC-09-444k | Nov. 18 | $4,000 |
The following prompt corrective actions were reported by regulators.
Company / Individual | Location | Regulator | Order/Docket No. | Date | Amount |
American Marine Bank | Bainbridge Island, Wash. | FDIC | FDIC-09-643PCAS | Nov. 20 | na |
Century Bank, A Federal Savings Bank | Sarasota, Fla. | OTS | SE-09-049 | Oct. 22 | na |
Evergreen Bank | Seattle | FDIC | FDIC-09-595PCAS | Nov. 4 | na |
MainStreet Savings Bank, FSB | Hastings, Mich. | OTS | CN 09-46 | Dec. 31 | na |
New South Federal Savings Bank | Irondale, Ala. | OTS | SE 09-051 | Nov. 10 | na |
Peoples First Community Bank | Panama City, Fla. | OTS | SE 09-056 | Nov. 27 | na |
United Commercial Bank | San Francisco | FDIC | FDIC-09-614PCAS | Nov. 2 | na |
The FDIC approved final orders “granting permission to file application and approving application and approving application for consent to participate in the affairs of any insured depository institution” for Nikita A. Dasilva (FDIC-09-306L Nov. 3), Paula D. Lawrence (FDIC-09-336L Nov. 9) and Frank C. Lee (FDIC-09-366L Nov. 9).