trending Market Intelligence /marketintelligence/en/news-insights/trending/2sv35ksorlvphsg7ca_qsa2 content esgSubNav
In This List

Former Okla. bank president sentenced to 18 months in prison

Blog

Banking Essentials Newsletter: July Edition - Part 2

Blog

Anticipate the Unknown Go Beyond Fundamentals to Uncover Early Signs of Private Company Credit Deterioration

Blog

Taking Loss Given Default Estimation to the Next Level: An Aspiration for All Creditors, Not Just Banks

Blog

Anticipate the Unknown A Fundamentals Approach to Detect Early Signs of Private Company Credit Deterioration


Former Okla. bank president sentenced to 18 months in prison

Chief U.S. District Judge Joe Heaton sentenced former First State Bank President Stephen Gregory Ward to 18 months in prison for conspiring to misapply bank funds, according to a press release from the Department of Justice.

The prison sentence of Ward, who must also pay $95,149.38, will be followed by three years of supervised release.

According to the press release, the Camargo, Okla.-based bank was critically undercapitalized because Ward allowed insiders to pay personal and business checks when their accounts had insufficient funds.

The bank failed in 2011.