[¶12,226] In the Matter of Barbara J. Nolte, First Kansas Bank, Hoisington,
Kansas, Docket No. 04-035e (6-8-04).
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.
[.1] Prohibition, Removal, or SuspensionProhibition FromParticipation in
Conduct of Affairs
[.2] Prohibition, Removal, or SuspensionProhibition FromVoting Rights,
exercise of
In the Matter of
BARBARA J. NOLTE,
individually and as an institution-affiliated party of
FIRST KANSAS BANK
HOISINGTON, KANSAS
(Insured State Nonmember Bank)
ORDER OF PROHIBITION FROM FURTHER PARTICIPATION
FDIC-04-035e
Barbara J. Nolte ("Respondent") has been advised of the
right to receive a NOTICE OF INTENTION TO PROHIBIT FROM FURTHER
PARTICIPATION ("NOTICE") issued by the Federal Deposit Insurance
Corporation ("FDIC"), detailing the violations of law and
regulations, and/or 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 Rules of Practice and Procedure, 12 C.F.R.
Part 308. Having waived those rights, 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 of law and regulations, and/or unsafe or unsound banking
practices, and/or breaches of fiduciary duty, Respondent consented to
the issuance of an ORDER by the FDIC.
Upon due consideration, the FDIC determined it had reason to believe
that:
1. Respondent has engaged or participated in violations of law and
regulations, and/or unsafe or unsound banking practices, and/or
breaches of fiduciary duty, as an institution-affiliated party of First
Kansas Bank, Hoisington, Kansas ("Bank");
2. By reason of such violations, and/or practices, and/or breaches of
fiduciary duty, the Bank has suffered or will probably suffer financial
loss or other damage.
3. By reason of such violations, and/or practices, and/or breaches of
fiduciary duty, the interests of the Bank's depositors have been or
could be prejudiced.
4. By reason of such violations, and/or practices, and/or breaches of
fiduciary duty, Respondent has received financial gain or other
benefit.
5. Such violations, and/or practices, and/or breaches of fiduciary
duty involve personal dishonesty on the part of the Respondent.
6. Such violations, and/or practices, and/or breaches of fiduciary
duty, demonstrate the Respondent's willful and/or continuing disregard
for the safety or soundness of the Bank.
The FDIC further determined that such violations, and/or 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, of any other insured depository institution, or of 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 issued the
following:
ORDER OF PROHIBITION FROM FURTHER PARTICIPATION
1. Unless Respondent receives 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), Respondent is 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; or
(d) voting for a director, or serving or acting as an
institution-affiliated party.
2. This ORDER will become effective immediately upon 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 8th day of June, 2004.