Monthly matters processed by the Federal Deposit Insurance Corp. increased 29 percent. Civil money penalties and cease-and-desist orders dominated the latest FDIC activity, while formal agreements kept the Federal Reserve busy.
FDIC actions jumped to 80 in June from 62 during May. The FDIC previously reported that 66 matters were processed during June 2009.
Final orders issued pursuant to Section 8(b), 12 U.S.C. §1818(b ) — also known as cease-and-desist orders — represented 29 of the FDIC’s actions during June.
Company | Location | Regulator | Order/Docket No. | Date |
All American Bank | Des Plaines, Ill. | FDIC | FDIC-10-158b | June 21 |
AztecAmerica Bank | Berwyn, Ill. | FDIC | FDIC-10-129b | June 16 |
Bank of Bozeman | Bozeman, Mont. | FDIC | FDIC-10-386b | June 15 |
Bank of North Las Vegas | Las Vegas | FDIC | FDIC-10-348b | June 15 |
Beartooth Bank | Billings, Mont. | FDIC | FDIC-10-351b | June 10 |
Community Bank and Trust – Alabama | Union Springs, Ala. | FDIC | FDIC-09-722b | June 9 |
Community Bank of Pickens County | Jasper, Ga. | FDIC | FDIC-09-565b | June 11 |
Community First Bank | Rosholt, Wis. | FDIC | FDIC-10-272b | June 4 |
Community State Bank | Brook, Ind. | FDIC | FDIC-10-353b | June 11 |
Farmers & Merchants Bank & Trust | Burlington, Iowa | FDIC | FDIC-10-251b | June 10 |
First Community Bank of Southwest FL | Fort Myers, Fla. | FDIC | FDIC-10-180b | June 15 |
Firstbank of Puerto Rico | Santurce, P.R. | FDIC | FDIC-10-068b | June 2 |
Foundations Bank | Pewaukee, Wis. | FDIC | FDIC-10-114b | June 1 |
Great Northern Bank | Saint Michael, Minn. | FDIC | FDIC-10-213b | June 18 |
GulfSouth Private Bank | Destin, Fla. | FDIC | FDIC-10-026b | June 23 |
Heritage Banking Group | Carthage, Miss. | FDIC | FDIC-10-182b | June 4 |
Jefferson Bank and Trust Co. | Eureka, Mo. | FDIC | FDIC-10-250b | June 16 |
Lone Star Bank | Houston | FDIC | FDIC-10-259b | June 10 |
Oxford Bank & Trust | Oak Brook, Ill. | FDIC | FDIC-09-608b | June 22 |
Prosperity Bank | Saint Augustine, Fla. | FDIC | FDIC-10-045b | June 28 |
Putnam State Bank | Palatka, Fla. | FDIC | FDIC-09-542b | June 21 |
State Bank of Cokato | Cokato, Minn. | FDIC | FDIC-10-212b | June 1 |
State Bank of Paw Paw | Paw Paw, Ill. | FDIC | FDIC-10-294b | June 24 |
Summit Bank | Burlington, Wash. | FDIC | FDIC-10-178b | June 2 |
The Bank of Texas | Devine, Texas | FDIC | FDIC-10-341b | June 4 |
The Palmetto Bank | Laurens, S.C. | FDIC | FDIC-10-077b | June 10 |
The State Exchange Bank | Lamont, Okla. | FDIC | FDIC-10-324b | June 22 |
VisionBank | Saint Louis Park, Minn. | FDIC | FDIC-10-186b | June 1 |
West Pointe Bank | Oshkosh, Wis. | FDIC | FDIC-09-512b | June 17 |
Â
But some of the FDIC’s actions included the following orders to terminate cease-and-desist orders.
Orders Terminating Cease-and-Desist Orders
Company | Location | Regulator | Order/Docket No. | Date |
Access Bank | Champlin, Minn. | FDIC | FDIC-09-440b | June 18 |
American Trust & Savings Bank | Whiting, Ind. | FDIC | FDIC-09-511b | June 15 |
Bank of Florida – Southeast | Ft. Lauderdale, Fla. | FDIC | FDIC-09-587b | June 23 |
Bank of Florida – Southwest | Naples, Fla. | FDIC | FDIC-09-586b | June 23 |
Bank of Florida – Tampa Bay | Tampa, Fla. | FDIC | FDIC-09-588b | June 23 |
Citizens State Bank | Woodville, Texas | FDIC | FDIC-08-379b | June 30 |
Libertad Bank, SSB | Austin, Texas | FDIC | FDIC-08-119b | June 30 |
Peoples Bank of Kentucky Inc. | Flemingsburg, Ky. | FDIC | FDIC-09-020b | June 2 |
Pinehurst Bank | St. Paul, Minn. | FDIC | FDIC-10-020b | June 18 |
Plaza Bank | Irvine, Calif. | FDIC | FDIC-09-175b | June 2 |
The Bank of Bonifay | Bonifay, Fla. | FDIC | FDIC-08-325b | June 24 |
The Federal Reserve Board has disclosed 18 formal agreements over the past two weeks, while the National Credit Union Administration disclosed one. Agreements often require the preservation of capital and improved operational controls. Some agreements call for the replacement of management.
Company | Location | Regulator | Order/Docket No. | Date |
BOV Holding Co., Bank of Versailles | Versailles, Mo. | Federal Reserve Bank of Kansas City | 10-145-WA/RB-HC, 10-145-WA/RB-SM | July 26 |
Citizens Effingham Bancshares Inc. | Springfield, Ga. | Federal Reserve Bank of Atlanta, Banking Commissioner of the State of Georgia | 10-156-WA/RB-HC | July 26 |
Citizens Republic Bancorp Inc., Citizens Bank | Flint, Mich. | Federal Reserve Bank of Chicago, Michigan Office of Financial and Insurance Regulation | 10-159-WA/RB-HC, 10-159-WA/RB-SM | July 28 |
Community Capital Corp., CapitalBank | Greenwood, S.C. | Federal Reserve Bank of Richmond, State of South Carolina Board of Financial Institutions | 10-075 -WA/RB-HC, 10-075 -WA/RB-SM | July 28 |
Community Valley Bancorp | Chico, Calif. | Federal Reserve Bank of San Francisco | 10-146-WA/RB-HC | July 23 |
Farmers State Bank | Faith, S.D. | Federal Reserve Bank of Minneapolis; State of South Dakota Department of Revenue and Regulation, Division of Banking | 10-064-WA/RB-SMb | July 23 |
Harbor Bankshares Corp. | Baltimore, Md. | Federal Reserve Bank of Richmond | 10-138-WA/RB-HCb | July 22 |
Macatawa Bank Corp. | Holland, Mich. | Federal Reserve Bank of Chicago | 10-117-WA/RB-HC | July 23 |
Metro North Bancshares Inc. | Elk River, Minn. | Federal Reserve Bank of Minneapolis | 10-130-WA/RB-HC | July 23 |
New Peoples Bankshares Inc., New Peoples Bank Inc. | Honaker, Va. | Federal Reserve Bank of Richmond, Virginia State Corporation Commission, Bureau of Financial Institutions | 10-148-WA/RB-BHC, 10-148-WA/RB-SM | July 29 |
North State Bancshares Inc. | Shakopee, Minn. | Federal Reserve Bank of Minneapolis | 10-154-WA/RB-HC | July 26 |
NOVA Financial Holdings Inc. | Berwyn, Pa. | Federal Reserve Bank of Philadelphia | 10-140-WA/RB-HC | July 19 |
Oregon Pacific Bancorp, Oregon Pacific Bank | Florence, Ore. | Federal Reserve Bank of San Francisco, Oregon Department of Consumer and Business Services Division of Finance and Corporate Securities | 10-127-WA/RB-HC, 10-127-WA/RB-SM | July 23 |
Premier Financial Bancorp Inc., Abigail Adams National Bancorp Inc., Consolidated Bank and Trust Co. | Huntington, W.V.; Washington, D.C.; Richmond, Va. | Federal Reserve Bank of Richmond, Virginia State Corporation Commission Bureau of Financial Institutions | 10-141-WA/RB-SM | July 29 |
Premier Financial Corp., Premier Bank | Dubuque, Iowa | Federal Reserve Bank of Chicago, State of Iowa Division of Banking | 10-113-WA/RB-HC, 10-113-WA/RB-SM | July 28 |
Progress Bank of Florida | Tampa, Fla. | Federal Reserve Bank of Atlanta, and the State of Florida Office of Financial Regulation | 10-162-WA/RB-SM | July 27 |
The Prosperity Banking Co. | St. Augustine, Fla. | Federal Reserve Bank of Atlanta | 10-001-WA/RB-HC | July 26 |
Sonoma Valley Bancorp | Sonoma, Calif. | Federal Reserve Bank of San Francisco | 10-173 -WA/RB-HC | Aug. 4 |
Veritas Federal Credit Union | Franklin, Tenn. | NCUA | na | Aug. 4 |
The FDICÂ banned several individuals from the banking industry with removal-prohibition orders.
Employer | Individual | Location | Regulator | Order # | Date |
Bank of Minden | Linda C. Higgins | Mindenmines, Mo. | FDIC | FDIC-10-120e | June 21 |
Bank of the Ozarks | Bradley D. Payne | Little Rock, Ark. | FDIC | FDIC-09-244e | June 15 |
Bank of the West | Donice Medina | San Francisco | FDIC | FDIC-10-075e | June 15 |
Branch Banking and Trust Co. | Laura A. Potts | Winston-Salem, N.C. | FDIC | FDIC-10-031e | June 15 |
Jefferson Bank of Missouri | Kelley L. Steiner | Jefferson City, Mo. | FDIC | FDIC-10-073e | June 21 |
Lowell Co-operative Bank | Robert A. Houde | Lowell, Mass. | FDIC | FDIC-09-637e; | June 21 |
Metairie Bank & Trust Co. | Maria E. May | Metairie, La. | FDIC | FDIC-08-261e | June 3 |
Signature Bank | Kenneth E. Yaroch | Bad Axe, Mich. | FDIC | FDIC-06-219e | June 3 |
Stonebridge Bank | Dianne L. Caldwell | Exton, Pa. | FDIC | FDIC-10-199e | June 21 |
The Fed and the FDIC hit the following companies with civil money penalties.
Company | Location | Regulator | Order/Docket No. | Amount | Date |
Allegiance Bank of North America | Bala Cynwyd, Pa. | FDIC | FDIC-10-268k | $5,975 | June 22 |
Bank of Agriculture and Commerce | Stockton, Calif. | FDIC | FDIC-10-374k | $1,500 | June 16 |
Bank of St. Elizabeth | Saint Elizabeth, Mo. | FDIC | FDIC-10-288k | $4,000 | June 28 |
Bank of the Ozarks against Bradley D. Payne | Little Rock, Ark. | FDIC | FDIC-09-245k | $50,000 | June 15 |
Cecil Bank | Elkton, Md. | Federal Reserve Board | 10-102-CMP-SM | $21,945 | July 31 |
Central Valley Community Bank | Fresno, Calif. | FDIC | FDIC-10-360k | $1,540 | June 22 |
Citizens First Bank | Viroqua, Wis. | FDIC | FDIC-09-635k | $3,185 | June 15 |
Coastal Community Bank | Panama City Beach, Fla. | FDIC | FDIC-10-295k | $48,455 | June 4 |
Community Bank | Winslow, Ill. | FDIC | FDIC-10-117k | $3,080 | June 16 |
Country Bank | Prescott, Ariz. | FDIC | FDIC-10-393k | $13,090 | Kime 28 |
Crescent Bank | Myrtle Beach, S.C. | FDIC | FDIC-10-241k | $5,500 | June 4 |
Lowell Co-operative Bank against Robert A. Houde | Lowell, Mass. | FDIC | FDIC-09-652k | $5,000 | June 21 |
MainSource Bank | Greensburg, Ind. | FDIC | FDIC-09-584k | $22,000 | June 16 |
MainSource Bank | Greensburg, Ind. | FDIC | FDIC-10-401k | $4,235 | June 16 |
MainSource Bank, Successor in Interest to MainSource Bank of Illinois | Greensburg, Ind. | FDIC | FDIC-09-585k | $13,500 | June 16 |
New Century Bank | Dunn, N.C. | FDIC | FDIC-10-246k | $4,000 | June 4 |
Rainier Pacific Bank (In Receivership), against Victor J. Toy | Tacoma, Wash. | FDIC | FDIC-10-168k | $20,000 | June 16 |
The Dime Bank | Honesdale, Pa. | FDIC | FDIC-10-315k | $7,620 | June 22 |
The New Washington State Bank | New Washington, Ind. | FDIC | FDIC-10-234k | $1,400 | June 14 |
The Port Austin State Bank | Port Austin, Mich. | FDIC | FDIC-09-533k | $2,550 | June 15 |
United Southern Bank | Hopkinsville, Ky. | FDIC | FDIC-10-046k | $3,850 | June 18 |
The following prompt corrective actions were issued by the Fed and the FDIC.
Company | Location | Regulator | Order/Docket No. | Date |
Coastal Community Bank | Panama City Beach, Fla. | FDIC | FDIC-10-467PCAS | June 24 |
Community First Bank-Chicago | Chicago | Federal Reserve Board | 10-157-PCA-SM | Aug. 3 |
The Cowlitz Bank | Longview, Wash. | FDIC | FDIC-10-430PCAS | June 15 |
North County Bank | Arlington, Wash. | FDIC | FDIC-10-431PCAS | June 24 |
Pacific State Bank | Stockton, Calif. | Federal Reserve Board | 10-129-PCA-SM | July 20 |
An order (FDIC-09-491PCAS) terminating a supervisory prompt corrective action directive was processed on June 3 by the FDIC for Washita State Bank in Burns, Flat, Okla.
Final orders issued pursuant to Section 5(e), 12 U.S.C. § 1815(e), or cross-guaranty liability, were entered against the following three institutions by the FDIC.
Company | Location | Regulator | Order/Docket No. | Date |
Community Bank of Lincoln | Lincoln, Neb. | FDIC | FDIC-10-285kk | June 7 |
Community Bank of Rowan | Salisbury, N.C. | FDIC | FDIC-10-069kk | June 28 |
Ohio Commerce Bank | Beachwood, Ohio | FDIC | FDIC-10-372kk | June 28 |
The FDIC granted final orders pursuant to Section 19, 12 U.S.C. § 1829, for the following four individuals. The orders grant permission to file an application and approves the application for consent to participate in the affairs of any insured depository institution.
Company | Regulator | Order/Docket No. | Date |
Anderson, Lisa Margaret | FDIC | FDIC-10-217L | June 15 |
Johnson, Donavan Ivanhoe | FDIC | FDIC-10-289L | June 15 |
Kincaid, Michelle L. | FDIC | FDIC-09-592L | June 2 |
Stewart, Robert Eugene II | FDIC | FDIC-08-189L | June 2 |
An administrative hearing was scheduled today in San Diego for Balboa Thrift and Loan Association in Chula Vista, Calif. (FDIC-09-531b).