|
{{11-30-96 p.TC-351}}
[¶16,112] Docket No. FDIC-96-52b (8-21-96)
In the Matter of
SOUTHWEST BANK
JENNINGS, LOUISIANA
(Insured State Nonmember Bank)
MODIFICATION OF ORDER TO
CEASE AND DESIST
Paragraph 2(j) is added and incorporated into the ORDER TO CEASE AND DESIST ("ORDER") issued to the Southwest Bank, Jennings, Louisiana ("Bank") by the Federal Deposit Insurance Corporation ("FDIC") on April 10, 1996, and hereby reads as follows:
2. ***
(j) The requirements of paragraphs 2(a) through 2(d) above, shall abate as long as the Bank complies with the capital restoration plan authorized by the Bank's Board of Directors on July 18, 1996, and amended on July 30, 1996, and approved by the FDIC on July 30, 1996, pursuant to section 38(e)(2) of the Act, 12 U.S.C. § 1831o(e)(2), or any modification thereto approved by the FDIC. Upon written notice by the Regional Director to the Bank that the FDIC has determined that the Bank has failed to implement the capital restoration plan approved by the FDIC, the requirements of paragraphs 2(a) through 2(d) above, shall be reinstituted with full force and effect as a part of this ORDER.
The provisions of this MODIFICATION OF ORDER TO CEASE AND DESIST shall be binding upon the Bank, its subsidiaries, affiliates, directors, officers, employees, agents, successors, assigns, and other institution-affiliated parties of the Bank.
Except as specifically modified herein, all of the terms and conditions of the ORDER heretofore issued against the Bank on April 10, 1996, and which became effective on April 20, 1996, date shall remain in full force and effect.
The provisions of this MODIFICATION OF ORDER TO CEASE AND DESIST shall remain effective and enforceable except to the extent that, and until any such time as, any provisions of this MODIFICATION OF ORDER TO CEASE AND DESIST shall have been modified, terminated, suspended, or set aside by the FDIC.
{{11-30-96 p.TC-352}}
Dated at Memphis, Tennessee, this 21st day of August, 1996.
Pursuant to delegated authority.
|
