FDIC Issues Enforcement Actions to Three Problem Banks

The FDIC took enforcement actions against 39 banks in May, up from 31 during the previous month.  The 39 orders issued by the FDIC in May 2014 included two consent orders, one prompt corrective action directive, seven section 19 orders, three civil money penalties, and sixteen orders terminating consent orders and cease and desist orders. […]

Valley Bank, Moline, IL, Closed by Regulators, Tenth and Largest Bank Failure of 2014

The Illinois Department of Financial and Professional Regulation closed the Valley Bank, Moline, Illinois, and appointed the FDIC as receiver.  To protect depositors, the FDIC sold the failed bank to Great Southern Bank, Reeds Spring, Missouri, which will assume all deposits of Valley Bank. Valley Bank was founded by a group of local bankers and […]

FDIC Directs Two Illinois Banks To Immediately Raise More Capital – Illinois Leads Nation in Bank Failures

The FDIC issued a list of 31 administrative enforcement actions taken against banks and individuals during April 2014.  The enforcement actions include the following: 2 consent orders 2 prompt corrective action directives 12 orders terminating consent and cease and desist orders 1 civil money penalty 3 section 19 orders The most serious enforcement actions are […]

FDIC Issues 40 Enforcement Actions

The FDIC issued a list of 40 enforcement actions taken against banks and individuals during March 2014.  The enforcement actions include the following: 4 consent orders 1 prompt corrective action directive 9 section 19 orders 14 orders terminating consent orders and cease and desist orders 1 order terminating a prompt corrective action 2 civil money […]

First Federal Bank, Lexington, KY, Closed By Feds

After 78 years of serving the local community, First Federal Bank, Lexington, KY, was closed today by the Office of the Comptroller.  The FDIC, named as receiver for the failed bank, sold First Federal to Your Community Bank, New Albany, Indiana, which will assume all deposits of the failed bank. According to First Federal Bank’s […]

FDIC Issues 67 Enforcement Actions In September Against Banks and Individuals

A total of 67 enforcement actions were taken by the FDIC against banks and individuals in September, down from 80 in the prior month. The September enforcement actions included the following: 8 consent orders 13 civil money penalties 20 section 19 orders 19 removal and prohibition orders 8 orders terminating consent orders and cease and […]

FDIC Issues 80 Enforcement Actions In August Against Banks and Individuals

The FDIC announced today that a total of 80 enforcement actions were issued against banks and individuals in August.  In the previous month, the FDIC issued 56 enforcement actions. Enforcement actions taken during August included the following: 19 civil money penalties 12 consent orders 19 orders terminating consent and cease and desist orders 18 section […]

Waukegan Savings Bank, Waukegan, IL, Closed By Regulators

Waukegan Savings Bank, Waukegan, IL, a small commercial bank, was closed today by state regulators and the FDIC was named as receiver.  The FDIC sold the failed bank to First Midwest Bank, Itasca, IL, in order to protect depositors. Waukegan Savings Bank was established in 1924 and had two branches.  Both branches of the failed […]

FDIC Issues 48 Enforcement Actions In June

The FDIC announced in a press release today a total of 48 enforcement actions taken against banks and individuals in June 2012.  In May, the FDIC issued 56 enforcement actions. Enforcement actions issued in June included three consent orders, two prompt corrective actions, nine removal and prohibition orders, twelve civil money penalties, five modifications of […]

FDIC Issues 53 Enforcement Actions In May

The FDIC announced today a total of 53 enforcement actions for May 2012.  In the previous month, the FDIC had issued 56 enforcements actions. Enforcements actions issued in May included 9 consent orders, 10 civil money penalties, 8 section 19 orders, 13 orders terminating previous consent and cease and desist orders, 2 orders terminating prompt […]