Bank Mysteries. (Whispers).Two Arkansas banks were the subject of cease-and-desist orders Cease-and-desist order An order issued after notice and opportunity for hearing, requiring a depository institution, a holding company or a depository institution official to terminate unlawful, unsafe or unsound banking practices. by the Federal Deposit Insurance Corp. back in October. Details are still sketchy, but here's the story so far. Final cease-and-desist orders were issued against First State Bank at Parkin parkin Noun Brit a moist spicy ginger cake usually containing oatmeal [origin unknown] on Oct. 10 and against Peoples Bank at Paragould on Oct. 23. Chip Luter, executive vice president at Peoples Bank, aid we were correct in our suspicion that its run-in with the FDIC FDIC See: Federal Deposit Insurance Corporation FDIC See Federal Deposit Insurance Corporation (FDIC). was relate to the the case of Ross Edward Whitney, a loan officer who pleaded guilty a few months back to embezzling almost $160,000. (A charge related to some monkey business with another $600,000-plus in loans was dropped in exchange for his plea.) Whitney, 39, is serving 15 months in Club Fed. Sept. 30 call report data posted this week by the EDIC EDIC Economic Development Information Center EDIC Explain Demonstrate Imitate Critique (military aviation training method) showed income for the third-quarter of $209,000, which reduced the loss so far this year to $1.16 million. |
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