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Long List of Orders

Banking regulators recently reported that more than 100 regulatory orders have been issued against U.S. financial institutions — including 56 cease-and-desist orders, 34 civil money penalties and 27 removal-and-prohibition orders.

The Federal Deposit Insurance Corporation reported that it processed a total of 64 matters in July and 48 in August.

The Office of the Comptroller of the Currency issued a capital directive (No. 2009-114) on Aug. 12 to First Suburban National Bank in Maywood, Ill.

Cease-and-desist orders were issued against the following institutions. Bank failures are often preceded by such orders.

Cease-and-Desist Orders

Company Regulator Location Order No. Date
Advantage Bank FDIC Cambridge, Ohio FDIC-09-195b July 31
Anchor Mutual Savings Bank FDIC Aberdeen, Wash. FDIC-09-142b Aug. 12
Bank of Granite FDIC Granite Falls, N.C. FDIC-09-358b Aug. 27
Bank of Ontario FDIC Ontario, Wis. FDIC-09-160b July 30
Bank of Tacoma FDIC Tacoma, Wash. FDIC-09-176b Aug. 11
Bank of the Cascades FDIC Bend, Ore. FDIC-09-437b Aug. 27
Bankers’ Bancorp Inc., Independent Bankers’ Bank Federal Reserve Board, Illinois Department of Financial and Professional Regulation, Division of Banking Springfield, Ill. 09-136-B-HC, 09-136-B-SM, 2009-DB-85 Sept. 24
Border Trust Co. FDIC Augusta, Maine FDIC-09-285b Aug. 12
CIT Bank FDIC Salt Lake City, Utah FDIC-09-337b July 16
Citizens State Bank FDIC Hudson, Wis. FDIC-09-261b July 24
Commerce Bank of Southwest Florida FDIC Fort Myers, Fla. FDIC-09-113b July 9
Commercial State Bank of El Campo FDIC El Campo, Texas FDIC-09-262b July 1
Community Bank of Arizona FDIC Phoenix FDIC-09-247b July 22
Community Security Bank FDIC New Prague, Minn. FDIC-09-209b Aug. 3
Desert Hills Bank FDIC Phoenix FDIC-09-167b July 2
First Midwest Bank FDIC Centerville, S.D. FDIC-09-200b July 15
First Resource Bank FDIC Savage, Minn. FDIC-09-263b Aug. 31
First Standard Bank FDIC Los Angeles FDIC-09-349b Aug. 5
Golden State Bank FDIC Upland, Calif. FDIC-09-351b Aug. 17
Georgian Bank (failed Sept. 25) FDIC Atlanta FDIC-09-231b Aug. 31
Goshen Community Bank FDIC Goshen, Ind. FDIC-09-296b Aug. 21
Gwinnett Community Bank FDIC Duluth, Ga. FDIC-09-223b Aug. 31
Heritage Bank of North Florida FDIC Orange Park, Fla. FDIC-09-227b Aug. 4
Hometown National Bank OCC Longview, Wash. 2009-120 July 29
InBank FDIC Oak Forest, Ill. FDIC-09-275b Aug. 7
Irwin Financial Corp., Irwin Union Bank and Trust Co. (failed) Federal Reserve Board, Indiana Department of Financial Institutions Columbus, Ind. 09-126-B-HC, 09-126-B-SM Sept. 15
LibertyPointe Bank FDIC New York FDIC-09-112b July 16
MBank FDIC Gresham, Ore. FDIC-09-216b July 1
Mesa Bank FDIC Mesa, Ariz. FDIC-09-106b July 8
Mother Lode Bank FDIC Sonora, Calif. FDIC-09-313b Aug. 28
Mt. Washington Co-Operative Bank FDIC South Boston, Mass. FDIC-09-311b July 14
NexBank, SSB FDIC Dallas FDIC-09-303b Aug. 19
North County Bank FDIC Arlington, Wash. FDIC-09-362b Aug. 18
Northern Star Bank FDIC Mankato, Minn. FDIC-09-288b July 24
Northside Bank FDIC Adairsville, Ga. FDIC-09-082b July 9
Oconee State Bank FDIC Watkinsville, Ga. FDIC-09-221b Aug. 18
The Ohio State Bank FDIC Marion, Ohio FDIC-09-242b Aug. 7
Orion Bancorp Inc., Orion Bank Federal Reserve Bank of Atlanta, State of Florida Office of Financial Regulation Naples, Fla. 09-138-B-HC, 09-138-B-SM Sept. 18
Pacific Coast National Bank OCC San Clemente, Calif. 2009-115 Aug. 18
Pacific National Bank OCC San Francisco 2009-117 Aug. 25
Park National Bank OCC Chicago 2009-119 Aug. 26
Peoples National Bank OCC Colorado Springs, Colo. 2009-118 Aug. 27
Professional Business Bank FDIC Pasadena, Calif. FDIC-09-371b Aug. 24
Providence Bank FDIC Alpharetta, Ga. FDIC-09-222b Aug. 18
Ravenswood Bank FDIC Chicago FDIC-09-155b July 15
Royal Bank America FDIC Narberth, Pa. FDIC-09-282b July 16
San Diego National Bank OCC San Diego 2009-116 Aug. 24
Security Bank FDIC New Auburn, Wis. FDIC-09-111b July 8
Security State Bank of Lewiston FDIC Lewiston, Minn. FDIC-09-199b Aug. 20
ShoreBank FDIC Chicago FDIC-07-074b July 14
St. Stephen State Bank FDIC Saint Stephen, Minn. FDIC-09-182b July 14
State Bank of Delano FDIC Delano, Minn. FDIC-09-229b July 24
Twin City Bank FDIC Longview, Wash. FDIC-09-401b Aug. 28
Utah Community Bank FDIC Sandy, Utah FDIC-09-315b July 16
Ventura County Business Bank FDIC Oxnard, Calif. FDIC-09-374b Aug. 5
Western Community Bank FDIC Orem, Utah FDIC-09-368b Aug. 24

 

The FDIC also issued temporary cease-and-desist orders on July 28 against Central Bank of Georgia (No. FDIC-09-128c&b) in Ellaville, Ga., and on Aug. 11 against failed Colonial Bank (No. FDIC-09-402c&b) in Montgomery, Ala.

 

The following civil money penalties were issued.

Civil Money Penalties

Company Regulator Location Order No. Date Amount
1st State Bank FDIC Saginaw, Mich. FDIC-08-374k Aug. 4 $3,080
American River Bank FDIC Sacramento, Calif. FDIC-09-339k Aug. 13 $7,770
Bank of Walker County FDIC Jasper, Ala. FDIC-09-332k July 28 $4,410
Banner Banks FDIC Birnamwood, Wis. FDIC-08-059k Aug. 6 $1,300
The Business Bank FDIC Appleton, Wis. FDIC-08-098k July 7 $2,310
Cheyenne State Bank FDIC Cheyenne, Wyo. FDIC-09-382k Aug. 27 $6,765
Community Bank of Central Wisconsin FDIC Colby, Wis. FDIC-09-038k Aug. 12 $7,200
Community Business Bank FDIC Sauk City, Wis, FDIC-08-226k July 2 $1,400
Community Central Bank FDIC Mount Clemens, Mich. FDIC-07-106k Aug. 26 $2,250
Compass Bank Federal Reserve Board Birmingham, Ala. 09-113-CMP-SM Sept. 21 $70,625
Cornerstone Community Bank FDIC Chattanooga, Tenn. FDIC-09-174k Aug. 27 $25,000
Doral Bank FDIC San Juan, P.R. FDIC-09-228k July 8 $38,030
The Farmers Bank of Milton FDIC Milton, Ky. FDIC-08-336k July 2 $3,500
Farmers Trust & Savings Bank against Sara Jane Vriesen FDIC Buffalo Center, Iowa FDIC-08-351k July 28 $5,000
Fidelity Management Trust Co. FDIC Boston FDIC-09-340 OA Aug. 6 $1,323
First Bank & Trust Co. Federal Reserve Board Lebanon, Va. 09-112-CMP-SM Sept. 1 $2,565
The First National Bank of Stratton — Eugene L. Hase OCC Stratton, Colo. 2009-121 Aug. 20 n.a.
Hillcrest Bank FDIC Overland Park, Kan. FDIC-09-277k July 28 $8,000
Independent Farmers Bank FDIC Maysville, Mo. FDIC-09-274k Aug. 13 $1,500
ISB Community Bank FDIC Ixonia, Wis. FDIC-08-321k July 22 $4,190
Main Street Bank Corp. FDIC Wheeling, W.V. FDIC-09-259k July 27 $9,600
Monroe Bank & Trust FDIC Monroe, Mich. FDIC-07-216k July 22 $12,400
People’s Bank and Trust Company of Pickett County FDIC Byrdstown, Tenn. FDIC-09-327k July 27 $5,390
Peoples Bank of Kentucky Inc. FDIC Flemingsburg, Ky. FDIC-09-003k Aug. 26 $4,620
Peoples State Bank FDIC Prairie Du Chien, Wis. FDIC-08-250k Dec. 23, 2008 $8,265
Prior Lake State Bank FDIC Prior Lake, Minn. FDIC-09-218k July 8 $4,000
Pyramis Global Advisors Trust Co. FDIC Merrimack, N.H. FDIC-09-342 OA Aug. 6 $1,564
Rainier Pacific Bank FDIC Tacoma, Wash. FDIC-09-426k Aug. 31 $2,875
Readlyn Savings Bank FDIC Readlyn, Iowa FDIC-09-276k Aug. 21 $4,000
Republic First Bank FDIC Philadelphia FDIC-09-290k July 9 $8,750
Sound Banking Co. FDIC Morehead City, N.C. FDIC-09-140k July 27 $5,400
Traders & Farmers Bank FDIC Haleyville, Ala. FDIC-09-145k July 2 $4,000
Union Bank and Trust Co. Federal Reserve Board Bowling Green, Va. 09-111-CMP-SM Sept. 1 $3,990
Waumandee State Bank FDIC Waumandee, Wis. FDIC-09-002k Aug. 24 $13,090

 

Formal agreements were reached with the following institutions. Such agreements often require banks to conserve capital, improve operations and reduce credit risk. In some cases, agreements require the installment of new executives.

Formal Agreements

Company Regulator Location Order/Docket No. Date
AmericanWest Bancorporation Federal Reserve Bank of San Francisco Spokane, Wash. 09-121-WA/RB-HC Sept. 15
Capitol Bancorp Ltd., Capitol Bancorp Ltd.’s Second-Tier Bank Holding Companies Reserve Bank of Chicago Lansing, Mich. 09-106-WA/RB-HC Sept. 21
Capital Community Bancorporation Inc. Federal Reserve Bank of San Francisco Provo, Utah 09-120-WA/RB-HC Sept. 10
Century Bank of Florida Federal Reserve Bank of Atlanta, State of Florida Office of Financial Regulation Tampa, Fla. 09-103-WA/RB-SM Aug. 25
Colorado Mountain Bank Federal Reserve Bank of Kansas City, Colorado Division of Banking Denver 09-125-WA/RB-SM Sept. 3
Community Bankshares Inc. Federal Reserve Bank of Atlanta, Banking Commissioner of the State of Georgia Cornelia, Ga. 09-131-WA/RB-HC Sept. 16
Connecticut Community Bank, National Association OCC Westport, Conn. 2009-123 July 27
Eaton National Bank and Trust Co. OCC Eaton, Ohio 2009-128 Aug. 25
FBOP Corp. Federal Reserve Bank of Chicago Oak Park, Ill. 09-110-WA/RB-HC Aug. 28
First National Bancshares Inc. Federal Reserve Bank of Kansas City Goodland, Kan. 09-135-WA/RB-HC Sept. 10
The First National Bank of Elk River OCC Maple Lake, Minn. 2009-125 July 14
The First National Bank of Olathe OCC Olathe, Kan. 2009-124 Jan. 26
Grand Bank, National Association OCC Hamilton, N.J. 2009-126 Aug. 4
LegacyTexas Group Inc. Federal Reserve Bank of Dallas, Texas Department of Banking Plano, Texas 09-100-WA/RB-HC, 09-100-WA/RB-SM Aug. 18
Metro Financial Services Inc., Metro Bank of Dade County Federal Reserve Bank of Atlanta, State of Florida, Office of Financial Regulation Miami 09-102-WA/RB-HC, 09-102-WA/RB-SM, OFR Administrative File No. 0658-FI-08/09 Aug;. 20
Metrobank, N.A. OCC Houston 2009-129 Aug. 10
Metropolitan National Bank OCC New York 2009-127 July 23
Midwest Independent Bancshares Inc., Midwest Independent Bank Federal Reserve Bank of St. Louis Jefferson City, Mo. 09-099-WA/RB-HC, 09-099-WA/RB-SM Aug. 28
Nebraska Bankers’ Bank Federal Reserve Bank of Kansas City, Nebraska Department of Banking and Finance Lincoln, Neb. 09-066-WA/RB-SM Aug. 5
Northern Star Financial Inc. FDIC Mankato, Minn. n.a. n.a.
Northern Star Financial Inc. Federal Reserve Bank of Minneapolis Mankato, Minn. 09-116-WA/RB-HC Sept. 8
Old Southern Bank Federal Reserve Bank of Atlanta, State of Florida, Office of Financial Regulation Orlando, Fla. 09-123-WA/RB-SM, OFR Administrative File No. 0668-FI-08/09 Sept. 17
Security Financial Services Corp., Security Financial Bank Federal Reserve Bank of Minneapolis, Wisconsin Department of Financial Institutions Durand, Wis. 09-109-WA/RB-HC, 09-109-WA/RB-SM Sept 14
Tennessee State Bancshares Inc., Tennessee State Bank Federal Reserve Bank of Atlanta Pigeon Forge, Tenn. 09-115-WA/RB-HC, 09-115-WA/RB-SMM Aug. 31
UCBH Holdings Inc. Federal Reserve Bank of San Francisco San Francisco 09-128-WA/RB-HC Sept. 9
Valley Bancorp Inc. Federal Reserve Bank of Kansas City Brighton, Colo. 09-105-WA/RB-HC Aug. 27
Western National Bank OCC Phoenix 2009-122 July 15

 


Prompt corrective actions were issued against several institutions.

Prompt Corrective Actions

Company Regulator Location Order/Docket No. Date
Affinity Bank FDIC Ventura, Calif. FDIC-09-375PCAS July 31
American United Bank FDIC Lawrenceville, Ga. FDIC-09-365PCAP Aug. 13
Bank 1st FDIC Albuquerque, N.M. FDIC-09-463PCAS Aug. 31
First State Bank FDIC Sarasota, Fla. FDIC-09-333PCAS July 9

 


The following institutions faced recent removal-and-prohibition orders.

Removal-and-Prohibition Orders

Company Regulator Location Order/Docket No. Date
Alpine Bank against Pamela J. Williams FDIC Glenwood Springs, Colo. FDIC-08-093e July 16
Bank of America, National Association, against Tijaunia A. Wilmore OCC Charlotte, N.C. FDIC 2009-130 Aug. 5
Bank of the West against Cassidy Janosky FDIC San Francisco FDIC-08-134e July 16
Banner Bank against Juan Francisco Alejandro FDIC Walla Walla, Wash. FDIC-08-237e July 28
Benton Banking Co. against Jimmy L. Goddard FDIC Benton, Tenn. FDIC-08-003e July 28
Central Progressive Bank against Dwayne G. Deer FDIC Lacombe, La. FDIC-08-057e July 16
Citizens Bank of Pennsylvania against Kern K. Haynes FDIC Philadelphia FDIC-09-154e July 28
Farmers Trust & Savings Bank against Sara Jane Vriesen FDIC Buffalo Center, Iowa FDIC-08-014e July 28
Harleysville Savings Bank against Jennifer M. McDermott FDIC Harleysville, Pa. FDIC-09-220e July 28
International Bank of Commerce against Andrea N. Clawson FDIC Laredo, Texas FDIC-08-298e July 16
Southside Bank against Amber Penner FDIC Tyler, Texas FDIC-08-132e July 16
Virgin Islands Community Bank against Michael J. Dow Sr. FDIC Christiansted, St. Croix FDIC-07-233e July 16

 


Margo Harbridge faced a Final Order Granting Permission to File Section 19 Application and Approving Application for Consent to Participate in the Conduct of the Affairs of any Depository Institution (No. FDIC-08-190L) by the FDIC on July 6 pursuant to Section 19, U.S.C. 1829. The regulator also issued an Order Modifying Order of Prohibition From Further Participation (No. FDIC-94-073e) against Albert D. Noe on July 16.

During July, the FDIC terminated cease-and-desist orders against Timberland Bank, MetroPacific Bank, Mirae Bank, The State Bank of Lebo, Horizon Bank and Millennium State Bank of Texas. In August, cease-and-desist orders were terminated against Security Bank of Jones County, Security Bank of Bibb County, Security Bank of Gwinnett County and Security Bank of North Metro — all of which failed in July. The FDIC also terminated a cease-and-desist order against 1ST Security Bank of Washington.

The OCC also noted that it terminated orders against The First National Bank of Olathe, Cumberland Valley National Bank & Trust Co., First National Bank of Marin now known as Credit One Bank, First National Bank of Colorado City and Hometown National Bank.

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