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.