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OCC enforcement actions: Former United Americas Bank exec fined


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According to Market Intelligence, April 2023

OCC enforcement actions: Former United Americas Bank exec fined

The Office of the Comptroller of the Currency on March 15 announced a number of enforcement actions in the banking sector.

The following list excludes actions previously covered by S&P Global Market Intelligence and those that do not meet criteria for news coverage. Click here to view SNL's full database of enforcement actions against U.S. banks and thrifts.

Civil Money Penalty Orders

The OCC on March 11 ordered William Blanton, former director and interim CEO and vice chairman of Atlanta-based United Americas Bank NA, to pay a $10,000 fine.

The regulator said the penalty had been satisfied with Blanton's $10,000 payment to the Treasurer of the United States on Aug. 11, 2017, as required under a civil money penalty order dated July 10, 2017.

The OCC shuttered United Americas Bank in December 2010 and the bank's failed deposits were acquired by Macon, Ga.-based State Bank and Trust Co.

Formal Agreements

The OCC on Feb. 5 entered into a formal agreement with Arlington Heights, Ill.-based Ben Franklin Bank of Illinois, which will see the bank create a compliance committee of at least three members within 10 days from the agreement's date.

The compliance committee is required to submit a strategic plan covering at least a three-year period and a capital adequacy plan to the OCC by April 30 and subsequently within 45 days after the end of each quarter. The committee is also required to show specific corrective actions taken under these measures and the corresponding results.

Terminations of Existing Enforcement Actions

The OCC terminated enforcement actions against Norwalk, Conn.-based Connecticut Community Bank NA, William Blanton and Ben Franklin Bank.

The order on Connecticut Community Bank was terminated Feb. 14 and the order on Blanton was terminated March 11. The order on Ben Franklin Bank was terminated Feb 5.

The regulator issued the order on Connecticut Community Bank on July 27, 2009. The OCC said it believes the "safeness and soundness" of the bank is in compliance with existing laws and regulations.

Connecticut Community Bank is a subsidiary of Greenwich, Conn.-based Associated Community Bancorp Inc.