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Fed lifts First Baird cease and desist order

The Federal Reserve Board on Dec. 15 terminated its June 2006 cease and desist order against First Baird Bancshares Inc.

The enforcement action had been issued against both the Weatherford, Texas-based company and then-Chairman and President Joe Sharp, over their acquisition of more than 5% of a bank without the regulator's pre-approval. Sharp and First Baird were each assessed a civil money penalty of $87,500.