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[¶11,873] In the Matter of Unico Bank, Irondale, Missouri, Docket No. 01-088k
(12-12-01).
Respondent agrees to pay civil money penalty assessed by the FDIC in
the amount of $12,000.
In the Matter of
UNICO BANK
IRONDALE, MISSOURI
(Insured State Nonmember Bank)
ORDER TO PAY
CIVIL MONEY PENALTY
FDIC-01-088k
Unico Bank, Irondale, Missouri ("Bank"), has been advised of
the right to receive a NOTICE OF ASSESSMENT OF CIVIL MONEY PENALTY,
FINDINGS OF FACT AND CONCLUSIONS OF LAW, ORDER TO PAY, AND NOTICE OF
HEARING ("NOTICE") issued by the Federal Deposit Insurance
Corporation ("FDIC") detailing the violations for which a civil
money penalty may be assessed against the Bank pursuant to the Flood
Disaster Protection Act of 1973 ("Flood Act"), as amended, 42
U.S.C. §4012a, section 8(i)(2), and Part 339 of the FDIC Rules and
Regulations, 12 C.F.R. Part 339, and has been further advised of the
right to a hearing on the alleged charges under the Flood Act, 42
U.S.C. §4012a(f), section 8(i) of the FDI Act, 12 U.S.C.
§1818(i), and the FDIC Rules of Practice and Procedure, 12 C.F.R.
Part 308.
Having waived those rights, the Bank entered into a STIPULATION AND
CONSENT TO THE ISSUANCE OF AN ORDER TO PAY CIVIL MONEY PENALTY with a
representative of the Legal Division of the FDIC, whereby solely for
the purpose of this proceeding and without admitting or denying any
violations, the Bank consented and agreed to pay a civil money penalty
in the amount of $12,000.00 related to the violations of the Flood Act,
42 U.S.C. §4012a, and Part 339 of the FDIC Rules and Regulations, 12
C.F.R. Part 339, cited in the FDIC's October 23, 2000 examination, in
that it has made, increased, extended or renewed loans secured by a
building or mobile home located or to be located in a special flood
hazard area without requiring that the collateral be covered by
adequate flood insurance for the term of the loan, it has failed to
ensure that for loans secured by a building or mobile home located in a
special flood hazard area that there is adequate flood insurance on the
collateral for the term of the loan, and it has failed to give the
requisite notice regarding flood hazards and flood insurance to
borrowers whose loans are secured by a building or mobile home
located or to be located in a special flood hazard area.
The FDIC considered the matter and determined it had reason to believe
that the Bank has engaged or participated in violations
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of law or
regulations for which a civil money penalty of $12,000.00 is
appropriate to be assessed against the Bank, pursuant to the Flood Act,
42 U.S.C. §4012a, section 8(i)(2) of the FDI Act, 12 U.S.C.
§1818(i)(2), and Part 339 of the FDIC Rules and Regulations, 12
C.F.R. Part 339.
ORDER TO PAY
CIVIL MONEY PENALTY
IT IS HEREBY ORDERED that the Bank be, and hereby is, assessed a
civil money penalty of $12,000.00 pursuant to the Flood Act, 42 U.S.C.
§4012a, section 8(i)(2) of the FDI Act, 12 U.S.C. §1818(i)(2),
and Part 339 of the FDIC Rules and Regulations, 12 C.F.R. Part 339, the
receipt of which is acknowledged.
This ORDER TO PAY CIVIL MONEY PENALTY shall be effective upon its
issuance.
Pursuant to delegated authority.
Dated at Washington, D.C., this 12th day of December, 2001.