[¶12,224] In the Matter of Charles W. Rogers, Western Bank, Alamogordo, New
Mexico, Docket Nos. 04-020e, 04-021k (6-7-04).
Respondent is 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. Respondent also agrees to pay civil
money penalty assessed by the FDIC in the amount of $1,000.
[.1] Prohibition, Removal, or SuspensionProhibition FromParticipation in
Conduct of Affairs
[.2] Prohibition, Removal, or SuspensionProhibition FromVoting Rights,
exercise of
In the Matter of
CHARLES W. ROGERS
individually, and as an institution-affiliated party of
WESTERN BANK
ALAMOGORDO, NEW MEXICO
(Insured State Nonmember Bank)
ORDER OF PROHIBITION FROM FURTHER PARTICIPATION AND CIVIL MONEY PENALTY
FDIC-04-020e
FDIC-04-021k
Charles W. Rogers ("Respondent"), has been advised of the
right to receive a NOTICE OF INTENTION TO PROHIBIT FROM FURTHER
PARTICIPATION AND ASSESSMENT OF CIVIL MONEY PENALTY ("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 AND CIVIL MONEY PENALTY ("ORDER") may
issue, and has been further advised of the right to a hearing on the
alleged charges under section 8(e) and 8(i)(2) of the Federal Deposit
Insurance Act ("Act"), 12 U.S.C. §§ 1818(e) and (i)(2), 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 AND CIVIL MONEY PENALTY ("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 practices, and/or any breaches 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 Western Bank, Alamogordo, New
Mexico ("Bank");
(b) By reason of such violations, practices and/or breaches of
fiduciary duty, the Bank has suffered more than a minimal financial
loss or other damage, the interests of the Bank's depositors have been
prejudiced and/or Respondent received financial gain or other benefit;
and
(c) Such violations, practices and/or breaches of fiduciary duty
involves personal dishonesty on the part of the Respondent and/or
demonstrates the Respondent's willful and/or continuing disregard for
the safety or soundness of the Bank.
The FDIC further determined that such violations, 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). Furthermore, the FDIC, after taking into account the
CONSENT AGREEMENT, the appropriateness of the penalty with respect to
the financial resources and good faith of the Respondent, the gravity
of the alleged violations by Respondent, the history of previous
violations by Respondent, and such other matters as justice may
require, the FDIC accepted the CONSENT AGREEMENT and issued the
following:
ORDER OF PROHIBITION FROM FURTHER PARTICIPATION
1. Charles W. Rogers 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 matter 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; and
(d) voting for a director, or serving or acting as an
institution-affiliated party.
2. (a) Charles W. Rogers is hereby assessed a penalty of
one-thousand dollars ($1,000.) payable in certified funds, to the order
of the Treasurer of the United States; and
(b) Respondent is further prohibited from seeking or accepting
indemnification from any insured depository institution for the civil
money penalty assessed and paid in this matter.
3. This ORDER will become effective upon its issuance. 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 7th day of June, 2004.