Out of more than 125 recent actions by bank and credit union regulators — more than 20 percent were the termination of cease-and-desist orders.
The Federal Deposit Insurance Corp. reported that it processed 87 matters during March, an increase from 60 matters the previous month. But things weren’t so bad when compared with the 104 actions reported for March 2010 and given that nearly a third of the latest actions were the termination of prior orders.
The FDIC and Office of the Comptroller of the Currency together issued 37 cease-and-desist or consent orders. Failed financial institutions often previously faced cease-and-desist or consent orders. The FDIC issues “consent” orders pursuant to Section 8(b), 12 U.S.C. §1818(b).
Cease-and-Desist or Consent Orders
| Company | Location | Regulator | Order/Docket No. | Date |
| Alliance Banking Company | Winchester, KY | FDIC | FDIC-10-847b | 3/18/2011 |
| Artisans’ Bank | Wilmington, DE | FDIC | FDIC-11-047b | 3/3/2011 |
| Banco Industrial de Venezuela, C.A. | Caracas, Venezuela, New York, NY, Miami, FL | New York State Banking Department, Florida Office of Financial Regulation | 11-042-B & I-FB, 11-042-B & I-FA1, 11-042-B ” I-FA2 | 4/15/2011 |
| Gateway Business Bank | Cerritos, CA | FDIC | FDIC-11-054b; FDIC-10-888k | 3/7/2011 |
| Ojai Community Bank | Ojai, CA | FDIC | FDIC-11-101b | 3/31/2011 |
| Plumas Bank | Quincy, CA | FDIC | FDIC-11-035b | 3/18/2011 |
| The Pueblo Bank and Trust Company | Pueblo, CO | FDIC | FDIC-11-025b | 3/25/2011 |
| Bank of Naples | Naples, FL | FDIC | FDIC-11-036b | 3/8/2011� |
| The Bank of Commerce | Sarasota, FL | FDIC | FDIC-10-959b | 3/30/2011 |
| Bank of Idaho | Idaho Falls, ID | FDIC | FDIC-11-003b | 3/18/2011 |
| Mercantile Bank | Quincy, IL | FDIC | FDIC-11-012b | 3/31/2011 |
| Legacy Bank | Altoona, IA | FDIC | FDIC-11-026b | 3/17/2011 |
| Heartland Bank | Leawood, KS | FDIC | FDIC-10-914b | 3/14/2011 |
| United Kentucky Bank of Pendleton County, Inc. | Falmouth, KY | FDIC | FDIC-11-104b | 3/16/2011 |
| Northpointe Bank | Grand Rapids, MI | FDIC | FDIC-10-885b | 3/30/2011 |
| BANKWEST | Rockford, MN | FDIC | FDIC-10-952b | 3/17/2011 |
| World’s Foremost Bank | Sidney, NE | FDIC | FDIC-10-775b, FDIC-10-777k | 3/3/2011 |
| Greystone Bank | Raleigh, NC | FDIC | FDIC-10-844b | 3/1/2011 |
| Greer State Bank | Greer, SC | FDIC | FDIC-10-904b | 3/1/2011 |
| Synergy Bank, S.S.B. | McKinney, TX | FDIC | FDIC-10-235b | 3/18/2011 |
| The Business Bank | Appleton, WI | FDIC | FDIC-10-945b | 3/4/2011 |
| Bancroft State Bank | Bancroft, WI | FDIC | FDIC-10-936b | 3/1/2011 |
| PNC Bank, National Association | Wilmington, DE | OCC | 2011-045 | 4/13/2011 |
| The First National Bank of Polk County | Cedartown, GA | OCC | 2011-022 | 3/8/2011 |
| Conway Bank, National Association | Conway Springs, KS | OCC | 2011-023 | 3/22/2011 |
| Neighborhood National Bank | Alexandria, MN | OCC | 2011-024 | 2/16/2011 |
| Cadence Bank, National Association | Starkville, MS | OCC | 2011-025 | 3/4/2011 |
| Citibank, National Association | Las Vegas, NV | OCC | 2011-046 | 4/13/2011 |
| HSBC Bank Nevada, National Association | Las Vegas, NV | OCC | 2011-052 | 4/13/2011 |
| Metlife Bank, National Association | Convent Station, NJ | OCC | 2011-047 | 4/13/2011 |
| Bank of America, National Association | Charlotte, NC | OCC | 2011-048 | 4/13/2011 |
| U.S. Bank National Association ND | Fargo, ND | OCC | 2011-049 | 4/13/2011 |
| U.S. Bank National Association | Cincinnati, OH | OCC | 2011-049 | 4/13/2011 |
| JPMorgan Chase Bank, National Association | Columbus, OH | OCC | 2011-050 | 4/13/2011 |
| Wells Fargo Bank, National Association | Sioux Falls, SD | OCC | 2011-051 | 4/13/2011 |
| Eagle Valley Bank, National Association | St. Croix Falls, WI | OCC | 2011-026 | 3/17/2011 |
The FDIC terminated cease-and-desist orders against 27 institutions during March. In comparison, only 10 such orders were terminated in February.
Order Terminating a Cease-and-Desist Order
| Company | Location | Regulator | Order/Docket No. | Date |
| Professional Business Bank | Pasadena, CA | FDIC | FDIC-09-371b | 3/28/2011 |
| Sunshine State Community Bank | Port Orange, FL | FDIC | FDIC-09-324b | 3/4/2011 |
| Enterprise Banking Company | McDonough, GA | FDIC | FDIC-09-462b | 3/30/2011 |
| Citizens Bank of Effingham | Springfield, GA | FDIC | FDIC-10-102b | 3/3/2011 |
| Town Community Bank and Trust | Antioch, IL | FDIC | FDIC-09-689b | 3/31/2011 |
| Benchmark Bank | Aurora, IL | FDIC | FDIC-09-404b | 3/31/2011 |
| Broadway Bank | Chicago, IL | FDIC | FDIC-09-573b | 3/31/2011 |
| Citizens Bank and Trust Company of Chicago | Chicago, IL | FDIC | FDIC-09-248b | 3/31/2011 |
| Lincoln Park Savings Bank | Chicago, IL | FDIC | FDIC-09-250b | 3/31/2011 |
| New Century Bank | Chicago, IL | FDIC | FDIC-09-348b | 3/31/2011 |
| Ravenswood Bank | Chicago, IL | FDIC | FDIC-09-155b | 3/31/2011 |
| Shorebank | Chicago, IL | FDIC | FDIC-09-074b | 3/31/2011 |
| Heritage Community Bank | Glenwood, IL | FDIC | FDIC-08-131b | 3/31/2011 |
| Community Bank of Lemont | Lemont, IL | FDIC | FDIC-08-372b | 3/31/2011 |
| Bank of Lincolnwood | Lincolnwood, IL | FDIC | FDIC-09-135b | 3/31/2011 |
| Wheatland Bank | Naperville, IL | FDIC | FDIC-09-308b | 3/31/2011 |
| InBank | Oak Forest, IL | FDIC | FDIC-09-275b | 3/31/2011 |
| Palos Bank and Trust Company | Palos Heights, IL | FDIC | FDIC-09-279b | 3/31/2011 |
| Peotone Bank and trust Company | Peotone, IL | FDIC | FDIC-09-184b | 3/31/2011 |
| Valley Community Bank | St. Charles, IL | FDIC | FDIC-09-214b | 3/31/2011 |
| First Dupage Bank | Westmont, IL | FDIC | FDIC-08-387b | 3/31/2011 |
| Bank of Franklin | Meadville, MS | FDIC | FDIC-09-562b | 3/31/2011 |
| High Desert State Bank | Albuquerque, NM | FDIC | FDIC-09-127b | 3/14/2011 |
| The First State Bank | Camargo, OK | FDIC | FDIC-10-908b | 3/30/2011 |
| American State Bank | Tulsa, OK | FDIC | FDIC-09-755b | 3/30/2011 |
| First Bank & Trust | Brookings, SD | FDIC | FDIC-07-228b | 3/14/2011 |
| AmericanWest Bank | Spokane, WA | FDIC | FDIC-09-144b | 3/24/2011 |
The OCC, the Federal Reserve and multiple state banking regulators recently entered formal agreements with 16 institutions. Such agreements can require the conservation of capital, operational improvements and, sometimes, management changes.
Formal Agreements
| Company | Location | Regulator | Order/Docket No. | Date |
| CenterBank, Inc. | Jacksonville, FL | Federal Reserve Bank of Atlanta | 11-033-WA /RB-HC | 4/7/2011 |
| Community Bankers Trust Corporation, Essex Bank | Glen Allen, VA, Tappahannock, VA | Federal Reserve Bank of Richmond, State Corporation Commission Bureau of Financial Institutions | 11-031-WA/RB-BHC, 11-031-WA/RB-SM | 4/21/2011 |
| TransPecos Financial Corp., TransPecos Banks | San Antonio, TX, Pecos, TX | Federal Reserve Bank of Dallas, Texas Commissioner of Banking | 11-020-WA/RB-HC, 11-020-WA/RB-SM | 4/13/2011 |
| The Leaders Group, Inc., | Oak Brook, IL | Federal Reserve Bank of Chicago | 11-047-WA/RB-HC | 4/26/2011 |
| Calwest Bancorp | Rancho Santa Margarita, CA | Federal Reserve Bank of San Francisco | 11-055 -WA/RB-HC | 4/29/2011 |
| First Financial Service Corporation | Elizabethtown, KY | Federal Reserve Bank of St. Louis | 11-038-WA/RB-HC | 4/20/2011 |
| Regent Bancorp, Inc., | Davie, FL | Federal Reserve Bank of Atlanta | 11-045-WA/RB-HC | 4/25/2011 |
| Currie Bancorporation, Inc. | Currie, MN | Federal Reserve Bank of Minneapolis | 08-030-WA/RB-HC | 4/12/2011 |
| Premier Bancorp, Inc. | Wilmette, IL | Federal Reserve Bank of Chicago | 11-039-WA /RB-HC | 4/18/2011 |
| Syringa Bancorp | Boise, ID | Federal Reserve Bank of San Francisco, Idaho Department of Finance | 11-001-WA/RB-HC, 2011-3-01 | 4/18/2011 |
| First National Bank and Trust | Atmore, AL | OCC | 2011-029 | 2/15/2011 |
| National Bank of Earlville | Earlville, IL | OCC | 2011-030 | 2/18/2011 |
| Woodlands National Bank | Hinckley, MN | OCC | 2011-031 | 3/1/2011 |
| The First National Bank of Germantown | Germantown, OH | OCC | 2011-032 | 3/22/2011 |
| The Kishacoquillas Valley National Bank of Belleville | Belleville, PA | OCC | 2011-033 | 2/17/2011 |
| American National Bank | Wichita Falls, TX | OCC | 2011-034 | 2/22/2011 |
The FDIC, OCC and National Credit Union Administration banned 15 individuals from financial institutions through removal-and-prohibition orders issued pursuant to Section 8(e), 12 U.S.C. § 1818(e).
Removal / Prohibition Orders
| Employer | Location | Individual | Regulator | Amount | Order # | Date |
| Troy Bank & Trust Company | Troy, AL | Peter L. Cash | FDIC | na | FDIC-09-318e | 3/3/2011 |
| First Guaranty Bank | Hammond, LA | Jamy L. Sibley (formerly Jamy L. Kiger) | FDIC | na | FDIC-09-501e | 3/7/2011 |
| The Park Avenue Bank | New York, NY | Charles J. Antonucci | FDIC | na | FDIC-10-781e | 3/17/2011 |
| Northwest Savings Bank | Warren, PA | Lisa A. Alcorn | FDIC | na | FDIC-10-770e | 3/3/2011 |
| First Reliance Bank | Florence, SC | Antoinete B. Hill | FDIC | na | FDIC-10-320e | 3/3/2011 |
| FirstBank Southwest | Amarillo, TX | Megan Hahn | FDIC | na | FDIC-10-528e | 3/3/2011 |
| Citizens State Bank of Luling | Luling, TX | Edward S. Casseb | FDIC | na | FDIC-10-536e | 3/17/2011 |
| Bank of America, National Association | Charlotte, NC | Maria C. Suan | OCC | na | 2011-036 | 3/9/2011 |
| JPMorgan Chase Bank, National Association | Columbus, OH | Matthew Moore | OCC | na | 2011-027 | 2/22/2011 |
| JPMorgan Chase Bank, National Association | Columbus, OH | Stacey L. Budd | OCC | na | 2011-037 | 3/15/2011 |
| Blc Bank, National Association | Strasburg, PA | Joseph Braas | OCC | na | 2011-038 | 2/17/2011 |
| Blc Bank, National Association | Strasburg, PA | Michael Schlager | OCC | na | 2011-039 | 2/17/2011 |
| Blc Bank, National Association | Strasburg, PA | Mary Stankiewicz | OCC | na | 2011-040 | 2/17/2011 |
| Southern First Bank, National Association | Greenville, SC | Collin D. Mackie | OCC | na | 2011-028 | 3/15/2011 |
| Premier Members Federal Credit Union | Boulder, CO | Rhett B. Rowe | NCUA | $9,306 | 11-0015-R5 | 5/6/2011 |
Civil Money Penalties were issued against 18 companies by the OCC and the FDIC — which noted that such orders are issued pursuant to Section 8(i), 12 U.S.C. § 1818(i).
Final Orders – Civil Money Penalties
| Company | Location | Individual | Regulator | Amount | Order/Docket No. | Date |
| ServisFirst Bank | Birmingham, AL | na | FDIC | $7,500.00 | FDIC-10-900k | 3/1/2011 |
| Gateway Business Bank | Cerritos, CA | na | FDIC | $25,000.00 | FDIC-10-888k | 3/7/2011 |
| Integrity Bank & Trust | Monument, CO | na | FDIC | $3,500.00 | FDIC-10-865k | 3/28/2011 |
| Regent Bank | Davie, FL | na | FDIC | $6,000.00 | FDIC-11-049k | 3/24/2011 |
| Pulaski Savings Bank | Chicago, IL | na | FDIC | $1,500.00 | FDIC-10-890k | 3/28/2011 |
| Central State Bank | Clayton, IL | na | FDIC | $1,155.00 | FDIC-10-768k | 3/8/2011 |
| First Michigan Bank | Troy, MI | na | FDIC | $1,200.00 | FDIC-10-769k | 3/4/2011 |
| World’s Foremost Bank | Sidney, NE | na | FDIC | $250,000.00 | FDIC-10-775b, FDIC-10-777b | 3/3/2011 |
| AmBank | Silver City, NM | na | FDIC | $15,000.00 | FDIC-10-569k | 3/17/2011 |
| The Farmers and Merchants Bank | Caldwell, OH | na | FDIC | $6,800.00 | FDIC-10-789k | 3/25/2011 |
| Coatesville Savings Bank | Coatesville, PA | na | FDIC | $2,750.00 | FDIC-11-071k | 3/25/2011 |
| Harleysville Savings Bank | Harleysville, PA | na | FDIC | $8,500.00 | FDIC-10-878k | 3/18/2011 |
| Northstar Bank of Texas | Denton, TX | na | FDIC | $9,500.00 | FDIC-10-928k | 3/31/2011 |
| Citizens State Bank of Luling | Luling, TX | Edward S. Casseb | FDIC | $5,000.00 | FDIC-09-645k | 3/17/2011 |
| Mitchell Bank | Milwaukee, WI | na | FDIC | $3,060.00 | FDIC-09-675k | 3/25/2011 |
| Pacific National Bank | Miami, FL | na | OCC | n/a | 2011-021 | 3/23/2011 |
| JPMorgan Chase Bank, National Association | Columbus, OH | Matthew Moore | OCC | n/a | 2011-027 | 2/22/2011 |
| Southern First Bank, National Association | Greenville, SC | Collin D. Mackie | OCC | n/a | 2011-028 | 3/15/2011 |
Prompt Corrective Actions were issued against 8 companies by the FDIC, OCC, and Fed. The FDIC issues prompt corrective actions pursuant to Section 38, 12 U.S.C. § 1831o.
Final Orders – Prompt Corrective Actions
| Company | Location | Regulator | Order/Docket No. | Date |
| Bank of Choice | Greeley, CO | FDIC | FDIC-11-038PCAS | 3/14/2011 |
| Signature Bank | Windsor, CO | FDIC | FDIC-11-122PCAS | 3/31/2011 |
| Bank of Shorewood | Shorewood, IL | FDIC | FDIC-11-115PCAS | 3/25/2011 |
| Oxford Bank | Oxford, MI | FDIC | FDIC-10-889PCAS | 3/4/2011 |
| Heritage Banking Group | Carthage, MS | FDIC | FDIC-10-907PCAS | 3/2/2011 |
| Summit Bank | Burlington, WA | FDIC | FDIC-11-136PCAS | 3/2/2011 |
| First Chicago Bank & Trust | Chicago, IL | Federal Reserve Bank of Chicago | 11-046-PCA-S | 4/7/2011 |
| The First National Bank of Davis | Davis, OK | OCC | 2011-035 | 3/2/2011 |
Orders terminating supervisory prompt corrective action directive were issued for several banks during March.
Terminations of Existing Enforcement Actions
| Company | Location | Regulator | Order/Docket No. | Date |
| First State Bank | Sarasota, FL | FDIC | FDIC-09-333PCAS | 3/30/2011 |
| The First State Bank | Camargo, OK | FDIC | DIC-10-915PCAS | 3/30/2011 |
| Prosper Bank | Prosper, TX | FDIC | FDIC-10-207PCAS | 3/14/2011 |
| Conway Bank, National Association | Conway Springs, KS | OCC | 2011-041, EA# 2005-25 | 3/22/2011 |
| Neighborhood National Bank | Alexandria , MN | OCC | 2011-042, EA# 2010-006 | 2/16/2011 |
| Eagle Valley Bank, National Association | St. Croix Falls, WI | OCC | 2011-026, EA# 2009-222 | 3/17/2011 |
| First National Bank of Platteville | Platteville, WI | OCC | 2011-043, EA# 2008-166 | 3/2/2011 |
A Final Order Section 19 was issued by the FDIC against Vincent Canzoneri, and James Lee Goodman, Jr.
A notice of charges for an Order to Cease and Desist and Notice of Hearing was issued by the FDIC to Republic Bank & Trust Co. in Louisville, Kentucky on Feb. 9.
