Regulatory actions taken by the Federal Deposit Insurance Corporation nearly doubled on a monthly basis and more than doubled compared to last year. In all, federal bank regulators recently issued nearly 100 orders — including more than 40 cease-and-desist orders.
The FDIC reported that it processed 86 matters in October. Actions against federally insured banks and thrifts soared from 48 reported for September. During October 2008, the FDIC processed just 40 actions.
The Office of the Comptroller of the Currency issued a personal cease-and-desist order (No. 2009-171) on Sept. 28 against Charles J. Runde of First National Bank of Platteville in Platteville, Wis.
Bank failures are often preceded by cease-and-desist orders. The following institutions recently faced cease-and-desist orders.
|Access Bank||Champlin, Minn.||FDIC||FDIC-09-440b||Oct. 22|
|Advantage Bank||Loveland, Colo.||FDIC||FDIC-09-427b||Oct. 21|
|American Heartland Bank and Trust||Sugar Grove, Ill||FDIC||FDIC-09-345b||Oct. 30|
|American Metro Bank||Chicago||FDIC||FDIC-09-394b||Oct. 30|
|American National Bank||Parma, Ohio||OCC||2009-167||Sep. 22|
|American Trust Bank||Roswell, Ga.||FDIC||FDIC-09-301b||Oct. 9|
|Bank of Greensburg||Greensburg, La.||FDIC||FDIC-09-403b||Oct. 20|
|Bank of South Texas||McAllen, Texas||FDIC||FDIC-09-455b||Oct. 27|
|Bank USA, N.A.||Phoenix||OCC||2009-166||Sep. 18|
|Benchmark Bank||Aurora, Ill.||FDIC||FDIC-09-404b||Oct. 15|
|Capmark Bank||Midvale, Utah||FDIC||FDIC-09-213b||Oct. 2|
|Citizens Bank & Trust Co.||Covington, La.||FDIC||FDIC-09-503b||Oct. 27|
|Citizens State Bank||New Baltimore, Mich.||FDIC||FDIC-09-391b||Oct. 15|
|Coatesville Savings Bank||Coatesville, Pa.||FDIC||FDIC-09-447b||Oct. 8|
|Eastside Commercial Bank||Conyers, Ga.||FDIC||FDIC-09-217b||Oct. 9|
|Edgebrook Bank||Chicago||FDIC||FDIC-09-092b||Oct. 23|
|Elkhart Community Bank||Elkhart, Ind.||FDIC||FDIC-09-297b||Oct. 2|
|Eurobank||San Juan, P.R.||FDIC||FDIC-09-317b||Oct. 9|
|Evergreen Bank||Seattle||FDIC||FDIC-09-451b||Oct. 23|
|The Felton Bank||Felton, Del.||FDIC||FDIC-09-432b||Oct. 27|
|First Bank||Farmersville, Texas||FDIC||FDIC-09-420b||Oct. 21|
|First City Bank of Florida||Fort Walton Beach, Fla.||FDIC||FDIC-09-356b||Oct. 15|
|First National Bank of Jasper||Jasper, Texas||OCC||2009-169||Oct. 8|
|First National Bank in Pawhuska||Pawhuska, Okla.||OCC||2009-168||Oct. 22|
|First State Bank||Cranford, N.J.||FDIC||FDIC-08-166b||Oct. 2|
|Frontenac Bank||Earth City, Mo.||FDIC||FDIC-09-443b||Oct. 21|
|Hillcrest Bank||Overland Park, Kan.||FDIC||FDIC-09-390b||Oct. 21|
|Jefferson Bank||Dallas||FDIC||FDIC-09-452b||Oct. 27|
|Lincoln Park Savings Bank||Chicago||FDIC||FDIC-09-250b||Oct. 6|
|Madisonville State Bank||Madisonville, Texas||FDIC||FDIC-09-470b||Oct. 7|
|Montgomery Bank & Trust||Ailey, Ga.||FDIC||FDIC-09-325b||Oct. 6|
|North Houston Bank||Houston||FDIC||FDIC-09-471b||Oct. 7|
|Oasis Bank, SSB||Houston||FDIC||FDIC-09-387b||Oct. 9|
|Ohana Pacific Bank||Honolulu||FDIC||FDIC-09-517b||Oct. 22|
|Palos Bank and Trust Co.||Palos Heights, Ill.||FDIC||FDIC-09-279b||Oct. 2|
|Peoples Bank and Trust Company of Clinton County||Albany, Ky.||FDIC||FDIC-09-405b||Oct. 22|
|Peotone Bank and Trust Co.||Peotone, Ill.||FDIC||FDIC-09-184b||Oct. 9|
|R-G Premier Bank of Puerto Rico||Hato Rey, P.R.||FDIC||FDIC-06-045b||Oct. 23|
|Southport Bank||Kenosha, Wis.||FDIC||FDIC-09-435b||Oct. 2|
|Sterling Savings Bank||Spokane, Wash.||FDIC||FDIC-09-507b||Oct. 9|
|SunFirst Bank||St. George, Utah||FDIC||FDIC-09-409b||Oct. 8|
|Thayer County Bank||Hebron, Neb.||FDIC||FDIC-09-441b||Oct. 5|
|Union Bank||Kansas City, Mo.||FDIC||FDIC-09-441b||Oct. 5|
|West Coast Bank||Lake Oswego, Ore.||FDIC||FDIC-09-453b||Oct. 22|
The FDIC issued an order (No. FDIC-09-402c&b) on Oct. 21 terminating a temporary order to cease and desist against failed Colonial Bank of Montgomery, Ala. An order terminating notice of charges and of hearing (No. FDIC-09-402c&b) was also issued by the FDIC on Oct. 21 against Colonial.
In addition, the FDIC issued orders terminating cease-and-desist-orders against Hillcrest Bank Florida in Naples; Mainstreet Bank in Forest Lake, Minn.; First Independent Bank in Russell, Minn.; Jennings State Bank in Spring Grove, Minn.; and Brickwell Community Bank in Woodbury, Minn.
The following prompt corrective actions were recently taken.
|Imperial Capital Bank||La Jolla, Calif.||FDIC||FDIC-09-553PCAS||Oct. 13|
|LibertyPointe Bank||New York||FDIC||FDIC-09-554PCAS||Oct. 20|
|Marshall Bank, N.A.||Hallock, Minn.||OCC||2009-179||Sep. 30|
|Rockbridge Commercial Bank||Atlanta||FDIC||FDIC-09-530PCAP||Oct. 28|
Formal agreements often require conservation of capital as well as improvements to lending operations and compliance. Banks that enter formal agreements are required to regularly report back about their performance. Some formal agreements require a change in management.
The following formal agreements were recently reached.
|The Bank Holdings||Reno, Nev.||Federal Reserve Bank of San Francisco||09-171-WA/RB-HC||Nov. 23|
|The Community National Bank||Franklin, Ohio||OCC||2009-176||Oct. 19|
|Eagle National Bank||Upper Darby, Pa.||OCC||2009-177||Oct. 15|
|Evergreen National Bank||Evergreen, Colo.||OCC||2009-173||Oct. 27|
|First Missouri National Bank||Brookfield, Mo.||OCC||2009-174||Oct. 22|
|The First National Bank of Wynne||Wynne, Ark.||OCC||2009-172||Oct. 6|
|Hillcrest Bancshares Inc.||Overland Park, Kan.||Federal Reserve Bank of Kansas City||09-162-WA/RB-HC||Oct. 28|
|Home Valley Bancorp Inc., Home Valley Bank||Grants Pass, Ore.||Federal Reserve Bank of San Francisco, Oregon Department of Consumer and Business Services, Division of Finance and Corporate Securities||09-186-WA/RB-HC, 09-186-WA/RB-SM||Nov. 19|
|Modern Bank, N.A.||New York||OCC||2009-175||Oct. 27|
|Severn Bancorp Inc., Severn Savings Bank||Annapolis, Md.||OTS||na||na|
|Williamsburg First National Bank||Kingstree, S.C.||OCC||2009-178||Oct. 14|
The OCC terminated a formal agreement with The Community National Bank in Franklin, Ohio.
Last month, the following removal-prohibition orders were issued.
|Afolabi, Abiola||TD Bank, N.A.||Wilmington, Del.||na||Oct. 2|
|Collins, Larry||SpiritBank||Tulsa, Okla.||FDIC-08-301e||Oct. 26|
|Dunckel, Tammy Michelle||Key Community Bank||Inver Grove Heights, Minn.||FDIC-09-294e||Oct. 26|
|Huber, Esther||Bank of Hazelton||Hazelton, N.D.||FDIC-09-267e||Oct. 26|
|McGinty, Criss L.||Glencoe State Bank||Glencoe, Okla.||FDIC-09-211e||Oct. 26|
|McGlasson, Jeffrey L.||First State Bank||Ketchum, Okla.||FDIC-08-331e||Oct. 26|
|Rezendes Sr., Kenneth R.||Rockland Trust Co.||Rockland, Mass.||FDIC-09-286e||Oct. 26|
|Sudhakaran, Raghavan K.||Bank of India||New York||FDIC-09-381e||Oct. 26|
An order (FDIC-09-497e&j, FDIC-08-002e) modifying an order of prohibition against Martha E. Thompson of The Citizens Bank of Weir, Kansas, was issued by the FDIC on Oct. 23.
Regulators reported the following civil money penalties were recently issued.
|Company / Individual||Location||Regulator||Order/Docket No.||Date||Amount|
|1st Advantage Bank||St. Peters, Mo.||FDIC||FDIC-09-464k||Oct. 5||$2,500|
|Apple River State Bank||Apple River, Ill.||FDIC||FDIC-09-039k||Oct. 8||$2,695|
|The Bank of Kentucky Inc.||Crestview Hills, Ky.||FDIC||FDIC-09-196k||Oct. 22||$30,415|
|Bank of Ontario||Ontario, Wis.||FDIC||FDIC-09-158k||Oct. 8||$5,350|
|Community Bank of Marshall||Marshall, Mo.||FDIC||FDIC-09-369k||Oct. 8||$4,000|
|The Delaware County Bank and Trust Co.||Lewis Center, Ohio||FDIC||FDIC-09-085k||Oct. 9||$5,000|
|East Boston Savings Bank||Boston||FDIC||FDIC-09-526k||Oct. 23||$9,430|
|Farmers Savings Bank||Wever, Iowa||FDIC||FDIC-09-446k||Oct. 26||$2,640|
|The First Commonwealth bank of Prestonsburg Inc.||Prestonsburg, Ky.||FDIC||FDIC-09-243k||Oct. 22||$1,650|
|First Personal Bank||Orland Park, Ill.||FDIC||FDIC-09-076k||Oct. 9||$1,250|
|The First State Bank of Burlingame||Burlingame, Kan.||FDIC||FDIC-09-419k||Oct. 26||$8,000|
|Firstrust Bank||Conshohocken, Pa.||FDIC||FDIC-09-312k||Oct. 1||$10,000|
|Horizon Community Bank||Lake Havasu City, Ariz.||FDIC||FDIC-09-436k||Oct. 6||$6,740|
|Huber, Esther of Bank of Hazelton||Hazelton, N.D.||FDIC||FDIC-09-269k||Oct. 26||$5,000|
|Key Community Bank||Inver Grove Heights, Minn.||FDIC||FDIC-09-295k||Oct. 26||$30,000|
|Kimball, John G. of Marshall Bank, N.A.||Hallock, Minn.||OCC||2009-170||Oct. 5||na|
|McGlasson, Jeffrey L. of First State Bank||Ketchum, Okla.||FDIC||FDIC-09-344k||Oct. 26||$10,000|
|Michigan Commerce Bank||Ann Arbor, Mich.||FDIC||FDIC-09-417k||Oct. 22||$3,500|
|Pacific International Bank||Seattle||FDIC||FDIC-09-359k||Oct. 13||$3,740|
|Reeves, Robert W. of USA Bank||Port Chester, N.Y.||FDIC||FDIC-08-076k||Oct. 26||$25,000|
|Rockland Trust Co.||Rockland, Mass.||FDIC||FDIC-09-287k||Oct. 26||$40,000|
|Runde, Charles J. of First National Bank of Platteville||Platteville, Wis.||OCC||2009-171||Sep. 28||na|
|Securant Bank & Trust||Menomonee Falls, Wis.||FDIC||FDIC-08-248k||Oct. 6||$1,550|
|The State Bank||Fenton, Mich.||FDIC||FDIC-08-244k||Oct. 22||$1,500|
|State Central Bank||Keokuk, Iowa||FDIC||FDIC-09-487k||Oct. 26||$9,500|
|Summit Bank||Prescott, Ariz.||FDIC||FDIC-09-495k||Oct. 7||$3,960|
The FDIC reported that Spirit of America National Bank in Milford, Ohio, voluntarily terminated its insurance on Oct. 30.
Orders granting permission to file application and approving applications for consent to participate in the affairs of an insured depository institution was approved by the FDIC for Steve M. Leonard (No. FDIC-09-383L) and John P. Murphy (No. FDIC-09-450L) on Oct. 5.
An administrative hearing is scheduled on Dec. 29 for Citizens Bank and Trust Company of Chicago in regard to the Matter of Robert Michael and George Michael.