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FDIC discloses March enforcement actions

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FDIC discloses March enforcement actions

The FDIC onApril 29 disclosed several enforcement actions taken against banks and individualsduring the month of March.

The following list excludes actions previously coveredby SNL and those that do not meet criteria for news coverage. Click hereto view SNL's full database of enforcement actions against U.S. banks and thrifts.

Assessment of civil money penalties, prohibitionorders

An order ofprohibition from further participation and an $85,000 civil money penalty againstBryan Starner, formerpresident of Logan, Ohio-based CitizensBank of Logan and former CEO of holding company Citizens Independent Bancorp Inc.

A removal/prohibitionorder and a $25,000 civil money penalty against Thomas Yu, former senior vice president of San Francisco-basedUnited Commercial Bank.The bank was closed inNovember 2009, by the California Department of Financial Institutions, which namedthe FDIC receiver, with Pasadena, Calif.-based East West Bancorp Inc. unit East West Bank assuming all the failed institution's depositsunder a purchase and assumption agreement with the FDIC.

Cease and desist order

San Francisco-basedCalifornia Pacific Bankon Feb. 17.

Supervisory prompt corrective action directive

Cottonwood Heights, Utah-based Proficio Bank, a unit of NHB Holdings Inc., on March 31.

Termination of C&D order

Loveland, Colo.-basedAdvantage Bank on March31.

Termination of consent orders

Dunlap, Tenn.-based MountainValley Bank, a unit of SequatchieCounty Bancorp Inc., on March 7.

Homestead, Fla.-based CommunityBank of Florida Inc. on March 11. The bank was acquired by Davenport, Fla.-based CenterState Banks Inc. on March 1.

Sunrise, Fla.-based TransCapitalBank on March 16.

Florence, Colo.-based RockyMountain Bank & Trust, a unit of First Flo Corp., on March 17.

Newington, Ga.-based Bankof Newington on March 18.

Termination of insurance- without deposits

Lumpkin, Ga.-based FarmersState Bank on March 2. The bank was acquired by Dothan, Ala.-based Five Star Credit Union on Nov. 1, 2015.

New York-based MitsubishiUFJ Trust & Banking Corp. (U.S.A) on March 29.