{{9-30-03 p.C-5766}}
[¶12,054] In the Matter of Rory J. O'Flaherty, and Banner Bank, Walla Walla,
Washington, Docket No. 03-008k (5-23-03).
Respondent agrees to pay civil money penalty assessed by the FDIC in
the amount of $15,000.
In the Matter of
RORY J. O'FLAHERTY,
individually, and as an institution-affiliated party of
BANNER BANK
WALLA WALLA, WASHINGTON
(Insured State Nonmember Bank)
ORDER TO PAY CIVIL MONEY PENALTY
FDIC-03-008k
Rory J. O'Flaherty ("Respondent") 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, unsafe and unsound
banking practices and/or breaches of fiduciary duty for which a civil
money penalty may be assessed against Respondent pursuant to section
8(i)(2) of the Federal Deposit Insurance Act ("Act"), 12 U.S.C.
§1818(i)(2), and has been further advised of the right to a hearing
on the alleged charges under section 8(i) of the Act, 12 U.S.C.
§1818(i), 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 TO PAY CIVIL MONEY
PENALTY ("CMP 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, Respondent
consented and agreed to pay a civil money penalty in the amount of
$15,000, related to his engaging in unsafe and unsound banking
practices and/or breaching his fiduciary duty to Banner Bank, Walla
Walla, Washington, an insured depository institution.
The FDIC considered the matter and determined it had reason to believe
that the Respondent has engaged or participated in violations, unsafe
and unsound banking practices and/or breached his fiduciary duty, for
which a civil money penalty of fifteen thousand dollars ($15,000) is
appropriate to be assessed against the Respondent pursuant to section
8(i)(2) of the Act, 12 U.S.C. §1818(i)(2).
The FDIC, therefore, accepted the CMP CONSENT AGREEMENT and issued the
following:
ORDER TO PAY CIVIL MONEY PENALTY
IT IS HEREBY ORDERED that Respondent be, and hereby is, assessed a
civil money penalty of $15,000 pursuant to section 8(i)(2) of the Act,
12 U.S.C. §1818(i)(2), the receipt of which is hereby acknowledged.
Pursuant to delegated authority.
Dated at Washington, D.C., this 23rd day of May, 2003.
