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Enforcement actions.

The Federal Reserve Board announced on November 15, 2004, the issuance of a consent order of assessment of a civil money penalty against the Cumberland Bank, Franklin, Tennessee, a state member bank. Cumberland 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 Cumberland Bank to pay a civil money penalty of $3,250, which will be remitted to the Federal Emergency Management Agency for deposit into the National Flood Mitigation Fund.

The Federal Reserve Board announced on November 15, 2004, the issuance of a consent order of assessment of a civil money penalty against the Five Points Bank, Grand Island, Nebraska, a state member bank. Five Points 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 Five Points Bank to pay a civil money penalty of $10,000, which will be remitted to the Federal Emergency Management Agency for deposit into the National Flood Mitigation Fund.

The Federal Reserve Board announced on November 18, 2004, the issuance of a cease and desist order against Ameribanc Holdings, Inc., Durango, Colorado, a bank holding company, and its subsidiary bank, the Bank of Durango, Durango, Colorado.

The Federal Reserve Board announced on December 2, 2004, the issuance of a cease and desist order against Thomas C. Darden, a former institution-affiliated party of Kenco Bancshares, Inc., Jayton, Texas.

The Federal Reserve Board also announced the execution of two written agreements. One agreement is between William J. Collier and the Federal Reserve Bank of Dallas, and the other agreement is between Jesse L. Reese and the Federal Reserve Bank of Dallas. Both William J. Collier and Jesse L. Reese are institution-affiliated parties of Kenco Bancshares, Inc., Jayton, Texas.

The order and the written agreements address conduct relating to a commitment made in connection with an application involving Kenco Bancshares, Inc.

The Federal Reserve Board announced on January 5, 2005, the execution of a written agreement by and among Prineville Bancorporation, Prineville, Oregon; the Community First Bank, Prineville Oregon; the Oregon Division of Financial and Corporate Securities, Salem, Oregon; and the Federal Reserve Bank of San Francisco.
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Title Annotation:Cumberland City Bank to pay penalty
Publication:Federal Reserve Bulletin
Geographic Code:1USA
Date:Jan 1, 2005
Words:387
Previous Article:Appointments of new members and designation of the chair and vice chair of the Consumer Advisory Council.
Next Article:Changes in Board staff.
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