There was no relenting for struggling banks trying to fend off regulators. Recent regulatory actions against financial institutions or their employees numbered around a hundred.
The Federal Deposit Insurance Corp. processed 76 matters during December, a modest decrease from 91 matters reported a month earlier. The decline is also reflected when compared with the 57 matters previously reported for December 2009.
In December, the FDIC issued 20 cease-and-desist orders 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 30 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).
|Alabama Trust Bank, National Association||Sylacauga, AL||OCC||2010-240||17-Dec|
|Armed Forces Bank, National Association||Ft. Leavenworth, KS||OCC||2010-242||14-Dec|
|City National Bank of New Jersey||Newark, NJ||OCC||2010-244||22-Dec|
|Collins State Bank||Collins, WI||FDIC||FDIC-10-716b||15-Dec|
|First American International Bank||Brooklyn, NY||FDIC||FDIC-10-646b||14-Dec|
|First Bank of Highland Park||Highland Park, IL||FDIC||FDIC-10-644b||22-Dec|
|First Bank of the Palm Beaches||West Palm Beach, FL||FDIC||FDIC-10-703b||21-Dec|
|First National Bank of Brookfield||Brookfield, IL||OCC||2010-241||9-Dec|
|First Southern Bank||Batesville, AR||FDIC||FDIC-10-884b||7-Dec|
|First State Bank||Mesquite, TX||FDIC||FDIC-10-814b||15-Dec|
|First State Bank and Trust||Tonganoxie, KS||FDIC||FDIC-10-752b||3-Dec|
|Heritage Bank of Florida||Lutz, FL||FDIC||FDIC-10-687b||14-Dec|
|Independence Bank||East Greenwich, RI||FDIC||FDIC-10-811b||14-Dec|
|McHenry Savings Bank||McHenry, IL||FDIC||FDIC-10-832b||14-Dec|
|Mitchell Bank||Milwaukee, WI||FDIC||FDIC-10-715b||23-Dec|
|Park State Bank||Duluth, MN||FDIC||FDIC-10-737b||17-Dec|
|Plains Commerce Bank||Hoven, SD||FDIC||FDIC-09-620b; FDIC-09-621k||30-Dec|
|Premier Service Bank||Riverside, CA||FDIC||FDIC-10-746b||1-Dec|
|Professional Bank||Coral Gables, FL||FDIC||FDIC-10-803b||21-Dec|
|Provident Community Bank, National Association||Rock Hill, SC||OCC||2010-245||23-Dec|
|The First National Bank of Wayne||Wayne, NE||OCC||2010-243||8-Dec|
|The First State Bank||Camargo, OK||FDIC||FDIC-10-908b||21-Dec|
|The Heritage Bank||Hinesville, GA||FDIC||FDIC-10-816b||27-Dec|
|Tidelands Bank||Mount Pleasant, SC||FDIC||FDIC-10-626b||28-Dec|
|Transcapital Bank||Hallandale Beach, FL||FDIC||FDIC-10-586b||3-Dec|
|WebBank||Salt Lake City, UT||FDIC||FDIC-10-792b; FDIC-10-793k||29-Dec|
|Woodlands Commercial Bank (f/k/a Lehman Brothers Commercial Bank)||Salt Lake City, UT||FDIC||FDIC-08-242b||30-Nov|
The FDIC modified a cease-and-desist order that was issued against Stockbridge, Ga.-based High Trust.
|High Trust Bank||Stockbridge, GA||FDIC||FDIC-09-486b||3-Dec|
A personal cease-and-desist order was issued by the OCC against Kyle Bryant, JPMorgan Chase Bank, N.A., Columbus, Ohio, on Nov. 29.
The FDIC terminated cease-and-desist orders against five institutions during December.
The OCC, the Federal Reserve and multiple state banking regulators recently entered formal agreements with seven institutions. Such agreements often require the conservation of capital, operational improvements and, occasionally, management changes.
|Amfirst Bank, National Association||McCook, NE||OCC||2010-247||15-Dec|
|COKATO BANCSHARES INC.||Cokato, Minn.||FEDERAL RESERVE BANK OF MINNEAPOLIS||10-217-WA/RB-HC||25-Jan|
|Community Central Bank Corporation||Mt. Clemens, MI||FEDERAL RESERVE BANK OF CHICAGO||10-250-WA /RB-HC||19-Jan|
|Elgin Bancshares, Inc.||Elgin, IL||FEDERAL RESERVE BANK OF CHICAGO||10-211-WA/RB-HC||19-Jan|
|Intervest Bancshares Corporation||New York, NY||FEDERAL RESERVE BANK OF NEW YORK||10-248-WA/RB-HC||14-Jan|
|Intervest National Bank||New York, NY||OCC||2010-248||9-Dec|
|Rocky Mountain Capital, Rocky Mountain Bank||Wilson, WY||FEDERAL RESERVE BANK OF KANSAS CITY, WYOMING DEPARTMENT OF AUDIT DIVISION OF BANKING||10-249-WA/RB-HC, 10-249-WA/RB-SM||20-Jan|
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).
|Farmers and Merchants Bank||Monticello, FL||Ronald Darrin McGlamry||FDIC||na||FDIC-10-516e; FDIC-10-686k||14-Dec|
|Silver State Bank||Henderson, NV||Douglas E. French||FDIC||na||FDIC-10-894e; FDIC-10-895k||17-Dec|
|Yampa Valley Bank||Steamboat Springs, CO||Lucy A. Middleton||FDIC||na||FDIC-10-366e; FDIC-10-368k||14-Dec|
|Central Bank of Georgia||Ellaville, GA||William Ben Dupree, III||FDIC||na||FDIC-10-625e; FDIC-10-624k||16-Dec|
|Alabama Trust Bank, National Association||Sylacauga, AL||Harold A. Dickson, Jr.||OCC||na||2010-246||16-Dec|
|Bank Northwest||Hamilton, MO||Laurine K. Calvert||FDIC||na||FDIC-10-307e||1-Dec|
|Cottonport Bank||Cottonport, LA||Sidney J. Lemoine, III||FDIC||na||FDIC-09-430e||1-Dec|
|Hancock Bank||Gulfport, MS||Margaret M. Migues||FDIC||na||FDIC-10-038e||1-Dec|
|Hancock Bank||Gulfport, MS||Willie Doris Burney a/k/a Doris Burney||FDIC||na||FDIC-10-040e||1-Dec|
|MagnetBank, Proficio Bank||Salt Lake City, UT||Randell Silcox||FDIC||na||FDIC-10-699e||27-Dec|
|New Frontier Bank||Greeley, CO||Jamie A. Weeks||FDIC||na||FDIC-10-694e||3-Dec|
|New Frontier Bank||Greeley, CO||John L. Kundert||FDIC||na||FDIC-10-766e||3-Dec|
|Randolph Savings Bank||Randolph, MA||Thomas H. Drummey||FDIC||na||FDIC-10-173e||14-Dec|
|Saehan Bank||Los Angeles, CA||Melody Song||FDIC||na||FDIC-10-798e||27-Dec|
|Saehan Bank||Los Angeles, CA||Juhee Kim||FDIC||na||FDIC-10-799e||27-Dec|
|Saehan Bank||Los Angeles, CA||Myung Geum||FDIC||na||FDIC-10-800e||27-Dec|
|Soy Capital Bank and Trust Company||Decatur, IL||Scott M. Huonker||FDIC||na||FDIC-10-482e||27-Dec|
Five individuals were given a Notice of Intention to Prohibit From Further Participation, Notice of Assessment of Civil Money Penalty, Findings of Fact, and Conclusions of Law, Order to Pay, and Notice of Hearing.
Notice of Assessment of Civil Money Penalty, Findings of Fact,
and Conclusions of Law, Order to Pay, and Notice of Hearing
|Central Progressive Bank||Lacombe, LA||Richard S. Blossman, Jr.||FDIC||FDIC-10-605e; FDIC-10-604k||16-Dec|
|Farmers and Merchants Bank||Monticello, FL||Ronald Darrin McGlamry||FDIC||FDIC-10-516e; FDIC-10-686k||14-Dec|
|Silver State Bank||Henderson, NV||Douglas E. French||FDIC||FDIC-10-894e; FDIC-10-895k||17-Dec|
|Yampa Valley Bank||Steamboat Springs, CO||Lucy A. Middleton||FDIC||FDIC-10-366e; FDIC-10-368k||14-Dec|
|Central Bank of Georgia||Ellaville, GA||William Ben Dupree, III||FDIC||FDIC-10-625e; FDIC-10-624k||16-Dec|
Civil Money Penalties were issued against 25 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).
|Bank of South Texas||McAllen, TX||Darryl Lemke||FDIC||$5,000.00||FDIC-10-751k||1-Dec|
|Central Co-operative Bank||Somerville, MA||na||FDIC||$9,500.00||FDIC-10-819k||9-Dec|
|Citizens Community Bank||Ridgewood, NJ||na||FDIC||$2,000.00||FDIC-09-480k||13-Dec|
|Citizens Community Bank||Ridgewood, NJ||na||FDIC||$5,000.00||FDIC-09-481k||13-Dec|
|Citizens Community Bank||Ridgewood, NJ||na||FDIC||$5,000.00||FDIC-09-482k||13-Dec|
|Citizens Community Bank||Ridgewood, NJ||na||FDIC||$5,000.00||FDIC-09-483k||13-Dec|
|Citizens Community Bank||Ridgewood, NJ||na||FDIC||$5,000.00||FDIC-09-484k||13-Dec|
|Citizens Savings Bank and Trust Company||Nashville, TN||na||FDIC||$15,000.00||FDIC-10-611k||9-Dec|
|Clinton Savings Bank||Clinton, MA||na||FDIC||$9,740.00||FDIC-10-812k||15-Dec|
|Community Bank||Alton, IA||Thomas E. Kiernan||FDIC||$10,000.00||FDIC-10-720k||21-Dec|
|Community Bank||Alton, IA||Loren J. Veldhuizen||FDIC||$5,000.00||FDIC-10-721k||21-Dec|
|Community Bank||Alton, IA||Gerald G. Langel||FDIC||$5,000.00||FDIC-10-722k||21-Dec|
|Community Bank||Alton, IA||Roger F. Cambier||FDIC||$5,000.00||FDIC-10-723k||21-Dec|
|Community Bank||Alton, IA||Donald W. Theharne||FDIC||$10,000.00||FDIC-10-724k||21-Dec|
|Community Bank||Alton, IA||Jacalyn J. Fedders||FDIC||$10,000.00||FDIC-10-725k||21-Dec|
|Community Bank of the Cumberlands||Jamestown, TN||na||FDIC||$4,410.00||FDIC-10-693k||3-Dec|
|Community First Bank||Butler, MO||na||FDIC||$1,500.00||FDIC-10-689k||2-Dec|
|Finance Factors, Ltd.||Honolulu, HI||na||FDIC||$8,450.00||FDIC-10-835k||8-Dec|
|Greater Rome Bank||Rome, GA||na||FDIC||$8,000.00||FDIC-10-647k||6-Dec|
|Highland Bank||Saint Michael, MN||na||FDIC||$13,000.00||FDIC-10-606k||2-Dec|
|Merchants and Planters Bank||Raymond, MS||na||FDIC||$5,000.00||FDIC-10-617k||30-Dec|
|Plains Commerce Bank||Hoven, SD||na||FDIC||$850,000.00||FDIC-09-620b; FDIC-09-621k||29-Dec|
|State Bank of Lizton||Lizton, IN||na||FDIC||$3,700.00||FDIC-10-579k||21-Dec|
|WebBank||Salt Lake City, UT||na||FDIC||$300,000.00||FDIC-10-792b; FDIC-10-793k||30-Dec|
|Alabama Trust Bank, National Association||Sylacauga, AL||Harold A. Dickson, Jr.||OCC||2010-246||16-Dec|
|State Bank of Park Rapids||Park Rapids, MN||Jon P. Smythe||FDIC||FDIC-09-149k||16-Dec|
The FDIC gave Notice of Assessment of Civil Money Penalty, Findings of Fact and Conclusions of Law, Order to Pay, and Notice of Hearing to Jon P. Smythe, State Bank of Park Rapids, Park Rapids, Minn.
Two individuals faced FDIC Final Orders issued pursuant to Section 19, 12 U.S.C. § 1829.
|John Wilson Blair||FDIC||FDIC-10-601L||27-Dec|
|Tony Dean Leite||FDIC||FDIC-10-385L||14-Dec|
Two institutions received FDIC Final Orders for Voluntary Termination of Insurance.
|Guardian Trust Company, FSB||New York, NY||FDIC||FDIC-10-448p||30-Dec|
|Pyramis Global Advisors Trust Company||Merrimack, NH||FDIC||FDIC-10-897p||22-Dec|
Prompt Corrective Actions were issued against four companies by the FDIC and the Federal Reserve Board. FDIC prompt corrective actions are issued pursuant to Section 38, 12 U.S.C. § 1831o.
|Evergreen State Bank||Stoughton, WI||FDIC||FDIC-10-859PCAS||10-Dec|
|First Southern Bank||Batesville, AR||FDIC||FDIC-10-901PCAS||7-Dec|
|The Bank of Commerce||Wood Dale, IL||FDIC||FDIC-10-767PCAS||2-Dec|
|Virginia Business Bank||Richmond, VA||FEDERAL RESERVE BOARD||11-007-PCA-SM||24-Jan|
In addition, an order terminating supervisory prompt corrective action directive was issued for Spokane, Wash.-based AmericanWest Bank by the FDIC.
Six actions were terminated by the OCC.
|C&D, Armed Forces Bank, National Association||Ft. Leavenworth, KS||OCC||2010-242, EA# 2010-100||14-Dec|
|FA, Alabama Trust Bank, National Association||Sylacauga, AL||OCC||2010-240, EA# 2009-081||17-Dec|
|FA, Albany Bank & Trust, National Association||Albany, GA||OCC||2010-250, EA# 2006-88||20-Dec|
|FA, City National Bank of New Jersey||Newark, NJ||OCC||2010-244, EA#2009-110||22-Dec|
|FA, First National Bank of Brookfield||Brookfield, IL||OCC||2010-241, EA# 2008-114||9-Dec|
|FA, The First National Bank of Wayne||Wayne, NE||OCC||2010-251, EA#2008-139||20-Dec|
The FDIC also amended a Notice of Charges and of Hearing for Synergy Bank, S.S.B. in McKinney, Texas.
The OCC issued one restitution order (#2010-246) to Harold A. Dickson, Jr., Alabama Trust Bank, National Association in Sylacauga, Ala.