Enforcement actions. (Announcements).The Federal Reserve Board Federal Reserve Board (FRB) The seven-member governing body of the Federal Reserve System, which is responsible for setting reserve requirements, and the discount rate, and making other key economic decisions. on January 23, 2003, announced the issuance of an order of assessment of a civil money penalty against The Bank of Yellville, Yellville, Arkansas, a state member bank Member bank A national- or state-chartered bank that is a member of the Federal Reserve System.. The Bank of Yellville, without admitting to any allegations, consented to the issuance of the order in connection with its alleged violations of the Board's regulations implementing the National Flood Insurance Act. The order requires The Bank of Yellville to pay a civil money penalty of $1,750, which will be remitted to the Federal Emergency Management Agency for deposit into the National Flood Mitigation Fund. The Federal Reserve Board on January 23, 2003, announced the issuance of an order of assessment of a civil money penalty against the Central State Bank, Calera, Alabama, a state member bank. The Central State Bank, without admitting to any allegations, consented to the issuance of the order in connection with its alleged violations of the Board's regulations implementing the National Flood Insurance Act. The order requires the Central State Bank to pay a civil money penalty of $2,000, which will be remitted to the Federal Emergency Management Agency for deposit into the National Flood Mitigation Fund. The Federal Reserve Board on January 23, 2003, announced the issuance of an order of assessment of a civil money penalty against the La Salle La Salle, city (1990 pop. 9,717), La Salle co., N Ill., on the Illinois River; settled 1830, inc. 1852. It forms a tricity unit with Peru and Oglesby. Corn, wheat, and soybeans are grown, and cattle and hogs are raised. Manufactures include chemicals, cement, circuit boards, and nonferrous metal products. The city developed as an important water transportation center after the opening of the Illinois and Michigan Canal in 1848. State Bank, La Salle, Illinois, a state member bank. The La Salle State Bank, without admitting to any allegations, consented to the issuance of the order in connection with its alleged violations of the Board's regulations implementing the National Flood Insurance Act. The order requires the La Salle State Bank to pay a civil money penalty of $3,150, which will be remitted to the Federal Emergency Management Agency for deposit into the National Flood Mitigation Fund. The Federal Reserve Board on January 23, 2003, announced the issuance of an order of assessment of a civil money penalty against the Simmons First Bank of Russellville Russellville, city (1990 pop. 21,260), seat of Pope co., central Ark., in an area yielding coal, timber, and diverse agricultural products; settled 1835, inc. 1870. Transportation equipment is manufactured and there is poultry processing. Arkansas Tech Univ. and the headquarters of the Ozark National Forest are there. An artificial lake adjoins the city. Mt. Nebo State Park and a national wildlife refuge are nearby., Russellville, Arkansas, a state member bank. The Simmons First Bank of Russellville, without admitting to any allegations, consented to the issuance of the order in connection with its alleged violations of the Board's regulations implementing the National Flood Insurance Act. The order requires the Simmons First Bank of Russellville to pay a civil money penalty of $1,500, which will be remitted to the Federal Emergency Management Agency for deposit into the National Flood Mitigation Fund. The Federal Reserve Board on February 5, 2003, announced the execution of a written agreement by and between Premier Financial Bancorp, Inc., Huntington, West Virginia, and the Federal Reserve Bank of Cleveland. |
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