The Federal Deposit Insurance Corp. on Sept. 28 released a list of enforcement actions taken against banks and individuals in August. No administrative hearings are scheduled for October.
The following list excludes actions that do not meet criteria for S&P Global Market Intelligence's news coverage. Click here to view an Excel template showing our full database of enforcement actions against U.S. banks and thrifts.
Civil money penalty orders, prohibition order
The FDIC on Aug. 13 issued a prohibition order and ordered Julius Martin II to pay a civil money penalty of $35,000 for alleged breaches of fiduciary duty while serving as COO, CFO and board secretary of Martin, Ky.-based First Guaranty Bank.
First Guaranty Bank is owned by First Prestonsburg Bancshares Inc.
The regulator on Aug. 13 issued a prohibition order and assessed a $15,000 civil money penalty on Robert Bortolotti. The regulator determined that Bortolotti, while serving as chief lending officer of New Jersey-based First Choice Bank, knowingly originated and extended the maturity dates on loans even if borrowers could not repay them as well as provided inaccurate past-due reports to the bank's board.
Termination of consent orders
The FDIC and the Illinois Department of Financial and Professional Regulation's Division of Banking on Aug. 17 lifted the March 2016 consent order against Des Plaines, Ill.-based Millennium Bank.
On Aug. 7, the regulators lifted the September 2016 consent order issued against Buffalo Grove, Ill.-based American Enterprise Bank, a unit of A. E. Bancorp Inc.
On Aug. 10, the FDIC terminated its February 2015 consent order against Wisconsin-based Laona State Bank, which is majority-owned by Northern Wisconsin Bank Holding Co. Inc.
The regulator on Aug. 17 also terminated its December 2015 consent order and order for restitution against Salt Lake City-based First Electronic Bank.