[¶12,342] In the Matter of First Bank, Troy, North Carolina, Docket No. 04-269k (12-22-04).

Respondent agrees to pay civil money penalty assessed by the FDIC in the amount of $12,000.

In the Matter of
FIRST BANK
TROY, NORTH CAROLINA
(Insured State Nonmember Bank)
ORDER TO PAY A CIVIL MONEY PENALTY

FDIC-04-269k

FIRST BANK, TROY, NORTH CAROLINA ("Bank"), has been advised of the right to 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 section 8(i)(2) of the Federal Deposit Insurance Act ("Act"), 12 U.S.C. §1818(i)(2), section 305 of the Home Mortgage Disclosure Act ("HMDA"), 12 U.S.C. §2804, and section 203.6 of Regulation C of the Board of Governors of the Federal Reserve System, 12 C.F.R. §203.6, 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 Bank entered into a STIPULATION AND CONSENT TO THE ISSUANCE OF AN ORDER TO PAY A 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, the Bank consented and agreed to pay a civil money penalty in the amount of twelve thousand dollars ($12,000.00), related to its excessive number of reportable loans omitted from the 2001, 2002 and 2003 HMDA Loan Application Registers as required by HMDA. The FDIC considered the matter and determined it had reason to believe that the Bank has engaged or participated in violations of law or regulation for which a civil money penalty of twelve thousand dollars ($12,000.00) is appropriate to be assessed against the Bank
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pursuant to section 8(i)(2) of the Act, 12 U.S.C. §1818(i)(2). The FDIC, therefore, accepted the CONSENT AGREEMENT and issued the following:

ORDER TO PAY A CIVIL MONEY PENALTY

IT IS HEREBY ORDERED that Bank be, and hereby is, assessed a civil money penalty of $12,000.00 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 22nd day of December, 2004.