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[¶11,892] In the Matter of Barbara C. Jarvis, The Felton Bank, Felton, Delaware,
Docket No. 01-116e (1-25-02).
Respondent prohibited from participating in the conduct of affairs of,
or exercising voting rights in, any insured institution without the
prior written approval of the FDIC.
[.1] Prohibition, Removal or SuspensionProhibition FromParticipation in
Conduct of Affairs
[.2] Prohibition, Removal or SuspensionProhibition FromVoting Rights,
Exercise of
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In the Matter of
BARBARA C. JARVIS, individually,and as an
institution-affiliated party of
THE FELTON BANK
FELTON, DELAWARE
(Insured State Nonmember Bank)
ORDER OF PROHIBITION FROM FURTHER PARTICIPATION
FDIC-01-116e
Barbara C. Jarvis ("Respondent") has received a NOTICE OF
INTENTION TO PROHIBIT FROM FURTHER PARTICIPATION ("NOTICE")
issued by the Federal Deposit Insurance Corporation ("FDIC")
detailing the violations, unsafe or unsound banking practices, and/or
breaches of fiduciary duty for which an ORDER OF PROHIBITION FROM
FURTHER PARTICIPATION ("ORDER") may issue, and has been further
advised of the right to a hearing on the alleged charges under section
8(e) of the Federal Deposit Insurance Act ("Act"), 12 U.S.C.
§1818(e), and the FDIC's Rules of Practice and Procedure, 12 C.F.R.
Part 308. Having waived those rights, the Respondent entered into a
STIPULATION AND CONSENT TO THE ISSUANCE OF AN ORDER OF PROHIBITION FROM
FURTHER PARTICIPATION ("CONSENT AGREEMENT") 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, unsafe
or unsound banking practice and/or breach of fiduciary duty, Respondent
consented to the issuance of an ORDER by the FDIC.
The FDIC considered the matter and determined it had reason to believe
that:
(a) The Respondent has engaged or participated in violations, unsafe or
unsound banking practices and/or breaches of fiduciary duty as an
institution-affiliated party of The Felton Bank, Felton, Delaware;
(b) By reason of such violations, unsafe or unsound banking practices
and/or breaches of fiduciary duty, the Bank has suffered or will
probably suffer financial loss or other damage, and/or Respondent
received financial gain or other benefit; and
(c) Such violations, unsafe or unsound banking practices and/or
breaches of fiduciary duty involve personal dishonesty on the part of
the respondent or demonstrate the respondent's willful and/or
continuing disregard for the safety or soundness of the Bank.
The FDIC further determined that such violations, unsafe or unsound
banking practices and/or breaches of fiduciary duty demonstrate the
Respondent's unfitness to serve as a director, officer, person
participating in the conduct of the affairs or as an
institution-affiliated party of the Bank, any other insured depository
institution, or any other agency or organization enumerated in section
8(e)(7)(A) of the Act, 12 U.S.C. §1818(e)(7)(A).
The FDIC, therefore, accepted the CONSENT AGREEMENT and issues the
following:
ORDER OF PROHIBITION FROM FURTHER PARTICIPATION
1. BARBARA C. JARVIS is hereby, without the prior written approval
of the FDIC and the appropriate Federal financial institutions
regulatory agency, as that term is defined in section 8(e)(7)(D) of the
Act, 12 U.S.C. §1818(e)(7)(D), prohibited from:
[.1](a) participating in any manner in the conduct of the affairs of any
financial institution or organization enumerated in section 8(e)(7)(A)
of the Act, 12 U.S.C. §1818(e)(7)(A);
[.2](b) soliciting, procuring, transferring, attempting to transfer,
voting, or attempting to vote any proxy, consent or authorization with
respect to any voting rights in any financial institution enumerated in
section 8(e)(7)(A) of the Act, 12 U.S.C. §1818(e)(7)(A);
(c) violating any voting agreement previously approved by the
appropriate Federal banking agency; or
(d) voting for a director, or serving or acting as an
institution-affiliated party.
2. This ORDER will become effective upon its issuance by the FDIC. The
provisions of this ORDER will remain effective and enforceable except
to the extent that, and until such time as, any provision of this ORDER
shall have been modified, terminated, suspended, or set aside by the
FDIC.
Pursuant to delegated authority.
Dated this 25th day of January, 2002.