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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.