Monthly regulatory actions against financial institutions or their employees held steady around a hundred once again. Cease-and-desist numbers were down slightly, while orders to terminate prior actions started to inch up.
The Federal Deposit Insurance Corp. processed 61 matters during January, a decline from 76 matters reported a month earlier. A slight decrease was also noted when compared to 67 matters reported in January 2010.
The FDIC issued 24 cease-and-desist orders during January and was joined by the Office of the Comptroller of the Currency in issuing a total of 27 cease-and-desist orders or consent orders. Such orders numbered 27 also in the last regulatory report.
Failed financial institutions often faced cease-and-desist or consent orders prior to being seized by regulators. The FDIC issues such 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 |
| All American Bank | Des Plaines, IL | FDIC | FDIC-11-020b | January 14, 2011 |
| Archer Bank | Chicago, IL | FDIC | FDIC-10-657b | January 13, 2011 |
| Boundary Waters Bank | Ely, MN | FDIC | FDIC-10-836b | January 27, 2011 |
| Chicago Community Bank | Chicago, IL | FDIC | FDIC-10-675b | January 13, 2011 |
| Citizens Community Bank of Illinois | Berwyn, IL | FDIC | FDIC-10-676b | January 13, 2011 |
| Community Bank of DuPage | Downers Grove, IL | FDIC | FDIC-10-677b | January 13, 2011 |
| Edens Bank | Wilmette, IL | FDIC | FDIC-10-678b | January 13, 2011 |
| First Bank and Trust Company of Illinois | Palatine, IL | FDIC | FDIC-10-875b | January 5, 2011 |
| First Federal Savings Bank of Elizabethtown | Elizabethtown, KY | FDIC | FDIC-10-817b | January 24, 2011 |
| First Southern National Bank | Statesboro, GA | OCC | 2010-254 | November 30, 2010 |
| Georgia Primary Bank | Atlanta, GA | FDIC | FDIC-10-824b | January 28, 2011 |
| Heritage Bank & Trust | Columbia, TN | FDIC | FDIC-10-484b | January 28, 2011 |
| Holmes County Bank & Trust Co. | Lexington, MS | FDIC | FDIC-10-963b | January 20, 2011 |
| Legacy Bank of Florida | Boca Raton, FL | FDIC | FDIC-10-654b | January 4, 2011 |
| Metropolitan Bank and Trust Company | Chicago, IL | FDIC | FDIC-10-680b | January 13, 2011 |
| North Community Bank | Chicago, IL | FDIC | FDIC-10-681b | January 13, 2011 |
| Pacific National Bank | Miami, FL | OCC | 2010-253 | December 15, 2010 |
| Plaza Bank | Norridge, IL | FDIC | FDIC-10-682b | January 13, 2011 |
| Premier Community Bank of the Emerald Coast | Crestview, FL | FDIC | FDIC-10-648b | January 28, 2011 |
| PrimeSouth Bank | Blackshear, GA | FDIC | FDIC-10-842b | January 31, 2011 |
| Saehan Bank | Los Angeles, CA | FDIC | FDIC-10-849b | January 25, 2011 |
| Signature Bank | Bad Axe, MI | FDIC | FDIC-10-913b | January 27, 2011 |
| Sunwest Bank | Tustin, CA | FDIC | FDIC-10-663b | January 21, 2011 |
| The First Commercial Bank | Chicago, IL | FDIC | FDIC-10-679b | January 13, 2011 |
| The First National Bank of Chatsworth | Chatsworth, GA | OCC | 2011-001 | January 20, 2011 |
| United Bank | Osseo, WI | FDIC | FDIC-10-787b | January 10, 2011 |
| West Pointe Bank | Oshkosh, WI | FDIC | FDIC-10-764b | January 13, 2011 |
The FDIC terminated cease-and-desist orders against eight institutions during January.
Order Terminating a Cease-and-Desist Order
| Company | Location | Regulator | Order/Docket No. | Date |
| American Continental Bank | City of Industry, FL | FDIC | FDIC-09-658b | January 7, 2011 |
| Chestatee State Bank | Dawsonville, GA | FDIC | FDIC-08-142b | January 28, 2011 |
| Copper Star Bank | Scottsdale, AZ | FDIC | FDIC-09-657b | January 27, 2011 |
| K Bank | Randallstown, MD | FDIC | FDIC-09-029b | January 14, 2011 |
| Lafayette Community Bank | Lafayette, IN | FDIC | FDIC-06-238b | January 27, 2011 |
| Pacific Valley Bank | Salinas, CA | FDIC | FDIC-09-556b | January 12, 2011 |
| Saehan Bank | Los Angeles, CA | FDIC | FDIC-09-557b | January 25, 2011 |
| USA Bank | Port Chester, NY | FDIC | FDIC-07-206b | January 14, 2011 |
The OCC, the Federal Reserve and multiple state banking regulators recently entered formal agreements with 19 institutions. Such agreements often require the conservation of capital, operational improvements and, occasionally, management changes.
Formal Agreements
| Company | Location | Regulator | Order/Docket No. | Date |
| American Bancorporation of Minnesota, Inc. | Brainerd, MN | Federal Reserve Bank of Minneapolis | 11-002-WA/RB-HC | February 16, 2011 |
| BANKVEST, INC. | Castle Rock, CO | Federal Reserve Bank of Kansas City | 10-236-WA/RB-HC | February 2, 2011 |
| Bridgeview Bancorp Inc. | Bridgeview, Ill. | Federal Reserve Bank of Chicago | 11-017-WA /RB-HC | February 18, 2011 |
| Centerbank of Jacksonville, National Association | Jacksonville, FL | OCC | 2010-260 | December 14, 2010 |
| Eastern Virginia Bankshares, Inc. and EVB | Tappahannock, VA | Federal Reserve Bank of Richmond, State Corporation Commission Bureau of Financial Institutions | 10-244-WA/RB-HC, 10-244-WA/RB-SM | February 17, 2011 |
| Financial Services of St. Croix Falls, Inc. | St. Croix Falls, WI | Federal Reserve Bank of Minneapolis | 10-101 -WA/RB-HC | February 7, 2011 |
| First National Bank | Camdenton, Mo | OCC | 2010-263 | December 10, 2010 |
| First National Bank of Winnsboro | Winnsboro, TX | OCC | 2010-264 | December 14, 2010 |
| Liberty Bank | Twinsburg, OH | OCC | 2011-007 | January 25, 2011 |
| Market Bancorporation, Inc. | Elk New Market, MN | Federal Reserve Board | 11-010-WA/RB-HC | February 10, 2011 |
| Marquette Financial Companies | Minneapolis, MN | Federal Reserve Bank of Minneapolis | 10-253-WA/RB-HC | February 17, 2011 |
| National Bancorp, Inc. | Schaumburg, IL | FEDERAL RESERVE BANK OF CHICAGO | 11-013-WA/RB-HC | February 17, 2011 |
| Noble Bank & Trust, National Association | Anniston, AL | OCC | 2010-259 | November 10, 2010 |
| One Bank & Trust, National Association | Little Rock, AR | OCC | 2011-005 | January 20, 2011 |
| Outsource Holdings Inc. | Lubbock, Texas | Federal Reserve Bank of Dallas | 11-021-WA/RB-HC | February 24, 2011 |
| Queensborough National Bank & Trust Company | Louisville, GA | OCC | 2010-261 | December 8, 2011 |
| The First National Bank of Milaca | Milaca, MN | OCC | 2010-262 | November 2, 2010 |
| The First National Bank of Sedan | Sedan, KS | OCC | 2011-006 | January 13, 2011 |
| Westside Banking Company | University Place, WA | FEDERAL RESERVE BANK OF SAN FRANCISCO | 11-014-WA/RB-HC | February 14, 2011 |
The FDIC and OCC banned six 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 |
| Arthur State Bank | Union, SC | Kimberly O. McAbee | FDIC | na | FDIC-10-486e | January 7, 2011 |
| Bank of Castile | Castile, NY | Tracy L Smith | FDIC | na | FDIC-10-733e | January 7, 2011 |
| Firstbank-West Michigan | Ionia, MI | Michael J. Willett | FDIC | na | FDIC-09-740e | January 31, 2011 |
| The Community National Bank | “Franklin, OH | Jay Lees | OCC | na | 2011-003 | February 2, 2011 |
| Timberland Bank | El Dorado, AR | Mark K. Turner | FDIC | na | FDIC-10-590e | January 7, 2011 |
| Wachovia Bank, National Association | Charlotte, NC | John Arango | OCC | na | 2011-008 | January 5, 2011 |
Civil Money Penalties were issued against 31 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 |
| AztecAmerica Bank | Berwyn, IL | na | FDIC | $4,500 | FDIC-10-130k | January 21, 2011 |
| BancorpSouth Bank | Tupelo, MS | na | FDIC | $46,500 | FDIC-10-779k | January 31, 2011 |
| Berkshire Bank | Wyomissing, PA | na | FDIC | $7,000 | FDIC-10-879k | January 3, 2011 |
| Brimfield Bank | Brimfield, IL | na | FDIC | $5,500 | FDIC-10-954k | January 25, 2011 |
| Brimfield Bank | Brimfield, IL | na | FDIC | $1,050 | FDIC-10-955k | January 25, 2011 |
| Central Bank & Trust Co. | Lexington, KY | na | FDIC | $3,150 | FDIC-10-656k | January 6, 2011 |
| Collins State Bank | Collins, WI | na | FDIC | $1,200 | FDIC-10-618k | January 14, 2011 |
| Dacotah Bank | Aberdeen, SD | na | Federal Reserve Board | $10,995 | 011-003-CMP-SM | February 4, 2011 |
| First Bank of Highland Park | Highland Park, IL | na | FDIC | $1,150 | FDIC-10-643k | January 27, 2011 |
| First Bank of Highland Park | Highland Park, IL | na | FDIC | $1,150 | FDIC-10-645k | January 27, 2011 |
| First Madison Valley Bank | Ennis, MT | na | FDIC | $6,400 | FDIC-10-933k | January 14, 2011 |
| Franklin Savings Bank | Farmington, MA | na | Federal Reserve Board | $5,160 | 011-004-CMP-SM | February 4, 2011 |
| Great Southern Bank | Reeds Springs, MO | na | FDIC | $21,953 | FDIC-10-634k | January 4, 2011 |
| Heritage Bank of Central Illinois | Trivoli, IL | na | FDIC | $2,695 | FDIC-10-620k | January 21, 2011 |
| Mizrahi Tefahot Bank, Ltd. | Los Angeles, CA | na | FDIC | $350,000 | FDIC-10-549k | January 31, 2011 |
| Murphy Bank | Fresno, CA | na | FDIC | $11,000 | FDIC-10-919k | January 11, 2011 |
| MyAnns Corporation | Piqua, KS | na | Federal Reserve Board | $37,500 | 11-018-BHC-CMP | February 8, 2011 |
| Northwest Savings Bank | Warren, PA | na | FDIC | $10,000 | FDIC-10-918k | January 3, 2011 |
| Security Bank | New Auburn, WI | na | FDIC | $7,000 | FDIC-10-619k | January 21, 2011 |
| Security Bank National Association | North Lauderdale, FL | Robert Diez | OCC | na | 2010-255 | November 23, 2010 |
| Security Bank National Association | North Lauderdale, FL | Manuel Fernandez | OCC | na | 2010-256 | November 23, 2010 |
| Security Bank National Association | North Lauderdale, FL | Floyd Harper | OCC | na | 2010-257 | November 23, 2010 |
| Security Bank National Association | North Lauderdale, FL | Timothy Kenney | OCC | na | 2010-258 | November 23, 2010 |
| Security Bank National Association | North Lauderdale, FL | Larry Serlo | OCC | na | 2011-002 | January 12, 2011 |
| The Bank National Association | “McAlester, OK | na | OCC | na | 2011-004 | January 28, 2011 |
| The Community National Bank | Franklin, OH | Jay Lees | OCC | na | 2011-003 | February 2, 2011 |
| Tradition Capital Bank | Edina, MN | na | FDIC | $3,000 | FDIC-10-782k | January 4, 2011 |
| Treaty Oak Bank | Austin, TX | na | FDIC | $2,300 | FDIC-10-863k | January 11, 2011 |
| United Bank | Osseo, WI | na | FDIC | $10,500 | FDIC-10-786k | January 10, 2011 |
| Zions First National Bank | Salt Lake City, UT | na | OCC | na | 2011-009 | February 10, 2011 |
| Zions First National Bank | Salt Lake City, UT | na | OCC | $8,000,000 | 2011-009, AA-EC-11-04 | February 10, 2011 |
Prompt Corrective Actions were issued against five companies by the FDIC and the Federal Reserve Board. FDIC prompt corrective actions are issued pursuant to Section 38, 12 U.S.C. § 1831o.
Final Orders – Prompt Corrective Actions
| Company | Location | Regulator | Order/Docket No. | Date |
| Bank of Whitman | Colfax, WA | Federal Reserve Board | 11-016-PCA-SM | February 9, 2011 |
| Community Banks of Colorado | Greenwood Village, CO | Federal Reserve Board | 11-011-PCA-SM | February 8, 2011 |
| First Peoples Bank | Port St. Lucie, FL | FDIC | FDIC-11-004PCAS | January 28, 2011 |
| Idaho Banking Company | Boise, ID | Federal Reserve Board | 11-013-PCA-SM | February 9, 2011 |
| Seattle Bank | Seattle, WA | FDIC | FDIC-11-006PCAS | January 10, 2011 |
An order terminating supervisory prompt corrective action directive was issued for three financial institutions by the FDIC.
Orders Terminating Supervisory Prompt Corrective Action Directive
| Company | Location | Regulator | Order/Docket No. | Date |
| Idaho First Bank | McCall, ID | FDIC | FDIC-10-557PCAS | January 3, 2011 |
| LibertyPointe Bank | New York, NY | FDIC | FDIC-09-554PCAS | January 14, 2011 |
| USA Bank | Port Chester, NY | FDIC | FDIC-09-708PCAS | January 14, 2011 |
Five actions were terminated by the OCC.
Terminations of Existing Enforcement Actions
| Company | Location | Regulator | Order/Docket No. | Date |
| C&D, Pacific National Bank | Miami, FL | OCC | EA# 2005-165 | December 15, 2010 |
| C&D, Pacific National Bank | Miami, FL | OCC | EA# 2009-137 | December 15, 2010 |
| FA, Eaton National Bank and Trust Co. | Eaton, OH | OCC | EA# 2009-128 | Dec. 14, 2010 |
| FA, First Southern National Bank | Statesboro, GA | OCC | EA# 2009-088 | November 30, 2010 |
| FA, The First National Bank of Chatsworth | Chatsworth, GA | OCC | EA# 2009-153 | January 20, 2011 |
The FDIC scheduled a March 21, 2011 administrative hearing for Synergy Bank, S.S.B. in McKinney, Texas.
