| Today's Feature The Order.
ORDER OF PROHIBITION FROM
FURTHER PARTICIPATION
FDIC-10-084e
)
Scott B. Rosenthal
("Respondent") has been advised of the
right to receive a NOTICE OF INTENTION TO
PROHIBIT FROM FURTHER PARTICIPATION
("NOTICE") issued by the Federal
Deposit Insurance Corporation ("FDIC")
detailing the violations of law and regulation,
unsafe or unsound banking practices, and breaches
of fiduciary duty for which an ORDER OF
PROHIBITION FROM FURTHER PARTICIPATION
("ORDER") may issue, and has been
further advised of the right to a hearing on the
alleged charges under section 8(e) of the Federal
Deposit Insurance Act ("Act"), 12
U.S.C.
§ 1818(e), and the FDIC’s
Rules of Practice and Procedure,
12 C.F.R. Part 308. Having
waived those rights, Respondent entered into a
STIPULATION AND CONSENT TO THE ISSUANCE OF AN
ORDER OF PROHIBITION FROM FURTHER PARTICIPATION
("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
of law and regulation, unsafe or unsound banking
practices, and any breaches of fiduciary duty,
Respondent consented to the issuance of an ORDER
by the FDIC.
The FDIC considered the matter
and determined it had reason to believe that:
(a) Respondent has engaged or
participated in violations of law and regulation,
unsafe or unsound banking practices, and breaches
of fiduciary duty as an institution-affiliated
party of the Mid-Missouri Bank, Springfield,
Missouri ("Bank");
(b) By reason of such
violations, practices, and breaches of fiduciary
duty, the Bank has suffered or will probably
suffer financial loss or other damage, the
interests of the Bank’s depositors have been
or could be prejudiced, and Respondent received
financial gain or other benefit; and
(c) Such violations, practices,
and breaches of fiduciary duty involve personal
dishonesty on the part of Respondent or
demonstrate Respondent’s willful and
continuing disregard for the safety or soundness
of the Bank.
The FDIC further determined
that such violations, practices, and breaches of
fiduciary duty demonstrate Respondent’s
unfitness to serve as a director, officer, person
participating in the conduct of the affairs or as
an institution-affiliated party of the Bank, any
other insured depository institution, or any
other agency or organization enumerated in
section 8(e)(7)(A) of the Act, 12 U.S.C. §
1818(e)(7)(A).
The FDIC, therefore, accepts
the CONSENT AGREEMENT and issues the following:
ORDER OF PROHIBITION FROM FURTHER PARTICIPATION
1. Scott B. Rosenthal is
hereby, without the prior written approval of the
FDIC and the appropriate Federal financial
institutions regulatory agency, as that term is
defined in section 8(e)(7)(D) of the Act, 12
U.S.C. § 1818(e)(7)(D), prohibited from:
(a) participating in any manner
in the conduct of the affairs of any financial
institution or organization enumerated in section
8(e)(7)(A) of the Act, 12 U.S.C. §
1818(e)(7)(A);
(b) soliciting, procuring,
transferring, attempting to transfer, voting, or
attempting to vote any proxy, consent, or
authorization with respect to any voting rights
in any financial institution enumerated in
section 8(e)(7)(A) of the Act, 12 U.S.C. §
1818(e)(7)(A);
(c) violating any voting
agreement previously approved by the appropriate
Federal banking agency; or
(d) voting for a director, or
serving or acting as an institution-affiliated
party.
2. This ORDER will become
effective upon its issuance by the FDIC. The
provisions of this ORDER will remain effective
and enforceable except to the extent that, and
until such time as, any provision of this ORDER
shall have been modified, terminated, suspended,
or set aside by the FDIC.
Pursuant to delegated
authority.
Dated at Washington D.C., this
20th day of October , 2011.
Serena L. Owens
Associate Director
Division of
Risk Management Supervision
Jasper
County Jail Count
194 December 20,
2011
Total
Including Placed out of County
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