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UNITED
BOARD
OF GOVERNORS
STATES
OF AMERICA
BEFORE
THE
OF THE FEDERAL
WASHINGTON,
In the Matter
Kenneth
A State
Member
Deposit
1
1
)
(the "Board
consent
of Kenneth
the board
Beach,
affiliate
of the prior
requirements
party,
1813(u)),
issues
executive
as defined
the Bank's
that
resulted
upon
president,
chairman
officer,
in alleged
the
of
and an
in Section
3(u)
of the
and Merchants
extensions
collateral,
Reserve
this Order
(the "Bank"),
with
of Sections
1818(i))
of the Federal
of the Farmers
California
approval,
of the Federal
(12 U.S.C.
("Walker"),
chief
Beach,
in connection
to a Bank
other
Long
8(i)
of Governors
G. Walker
of directors,
(12 U.S.C.
to Section
of Governors")
institution-affiliated
FDI Act
Order
as amended
the Board
System
98-025-CMP-11
;
1
1
Act,
(the "FDI Act"),
No.
1
pursuant
Insurance
Docket
;
)
Bank
WHEREAS,
Bank
D.C.
G. Walker
FARMERS AND MERCHANTS
BANK
of Long Beach
Long Beach, California
bank,
SYSTEM
of
An Institution-Affiliated
Party of
Long
RESERVE
Bank
a State
member
of credit
violations
documentation
of
in 1996
by the
and certain
23A and 23B of the Federal
Reserve
Act
(12 U.S.C.
Governors
Reserve
consented
Governors
215),
0 of the Board
and a Written
and
of
Agreement
between
the Bank,
dated
Order
with
by the Board
each
or 12 C.F.R.
and every
or set forth
of this Order
263,
or any provision
in any matter
the basis,
have
or otherwise
evidence
in this Order;
with
respect
(b) to obtain
hereof;
and
issuance,
or enforceability
of
provision
he might
Part
of taking
Walker
(c) to
validity,
of this Order
or
hereof.
NOW,
and without
hereunder,
any and all rights
collectibility
any provision
signature
of this
for the purpose
or contest
adjudication
1818
implied
review
his
to comply
and waived
effectiveness,
THEREFORE,
of or finding
this Order
prior
to the taking
on any
issue
constituting
allegation
made
or implied
connection
with
this proceeding,
settlement
of this proceeding
hearings
Regulation
of San Francisco
by affixing
to 12 U.S.C.
to any matter
challenge
Bank
and consented
(a) to a hearing
judicial
Part
to the issuance
of this Order,
pursuant
371c-l),
10, 1993;
WHEREAS,
has
and
(12 C.F.R.
the Federal
November
371~
and
without
2
testimony
of fact or law herein,
an admission
by the Board
or testimony:
of any
of any
of Governors
solely
in
for the purpose
protracted
or extended
of
or
IT IS HEREBY
FDI Act,
penalty
be remitted
the Federal
Reserve
of this Order,
Board
Washington,
payment
pay
agreed
in full,
by check
Board,
shall
funds
this Order,
copy
to section
8(i)
of the
as hereinafter
provided
a civil
in the sum of $12,500.
2. The
shall
pursuant
that:
1. Walker
money
ORDERED,
made
D.C.
at the time
payable
System"
and
to Jennifer
of Governors
20551.
to the Treasury
to be paid
pursuant
of Walker's
to the
"Board
forwarded
with
J. Johnson,
of the Federal
The Board
execution
of
of Governors
of
Walker's
Secretary
Reserve
of Governors
of the United
to this Order
States
executed
of the
System,
shall
remit
as required
the
by
statute.
3. All
sent
communications
regarding
this Order
to:
(a) Harold H. Blum
Director
Federal Reserve Bank of San Francisco
101 Market Street
San Francisco,
CA 94105
3
shall
be
(b) Kenneth G. Walker
President,
Chairman of the Board
and Chief Executive Officer
Farmers and Merchants
Bank of Long
302 Pine Street
Long Beach, CA 90802
4. No portion
Order
by Walker
reimbursed
shall
of the funds
be, directly
or otherwise
funded
5. The provisions
or otherwise
prevent
state
or department
agency
Walker,
provided,
take any
further
action
presently
known
addressed
by this Order.
By order
that
the Board
paid,
advanced,
not bar,
estop,
Walker
or any
any other
federal
action
of Governors
based
of Governors
of the Board
shall
of Governors,
taking
by the Board
to this
by the Bank.
from
against
pursuant
or indirectly,
of this Order
the Board
however,
to be paid
Beach
upon
relating
of Governors,
or
affecting
shall
information
to the matters
this
day of
BOARD OF GOVERNORS
OF THE
FEDERAL RESERVE SYSTEM
.a--
Kenneth
G. Walker
/
Secretary
not
of the Board