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WNITED
BEFORE
THE
BOARD
STATES
GOVERNORS
OF
OF
WASHINGTON,
In the Matter
JEROME
of
WHEREAS,
(12 U.S.C.
Federal
Order
director,
and
sections
3(u)
Federal
to sections
Act,
(the "Board
president,
98-009-E-11
former
System,
("Bancorp") , formerly
Bechstein's
alleged
or unsound
practices
Pursuant to
Insurance
(the
bank
and Towne
a registered
participation
regarding
(i) (3) of the
"FDI Act")
of Governors
of the
issues
against
C. Bechstein
chief
Towne
and
of Governors")
Jerome
executive
party,
8(b) (3) of the FDI Act
a state-chartered
Reserve
8(e)
as amended
(the "Order")
1818(b) (3)), of the
("Towne"),
No.
1
institution-affiliated
and
SYSTEM
D. C .
(i) (3)), the Board
System
, former
and
;
Insurance
of Prohibition
("Bechstein")
RESERVE
Order of Prohibition
Issued Upon Consent
the Federal Deposit
Act, as Amended
1
pursuant
1818(e)
Reserve
FEDERAL
;
An Institution-Affiliated
Party of the former
Towne Bank
Perrysburg,
Ohio
and
Towne Bancorp,
Inc.
Perrysburg,
Ohio
Deposit
THE
Docket
C. BECHSTEIN
Federal
AMERICA
OF
Bank,
officer,
as defined
(12 U.S.C.
Perrysburg,
a member
Bancorp,
Inc.,
holding
in violations
the lending
in
1813(u)
and
Ohio
that was
bank
this
of the
Perrysburg,
company,
due
Ohio
to
of law and unsafe
function
at Towne;
and
2
WHEREAS,
has
consented
Governors
have
and has waived
otherwise
(a) to the
in this
the basis,
enforceability
any and all
against
of this
claims
Towne,
("Exchange"),
common
issuance,
for fees
or Bancorp
law or under
limited
to, Ohio
NOW,
adjudication
forth
state
prior
of or finding
in any
or contest
hereof;
(e) to
Order
Luckey,
whether
or
and
to this
Bank,
or
of this
effectiveness
statute,
Governors
in connection
Ohio
arising
including,
made
without
taking
issue
this
herewith,
of this matter
to the
on any
and without
of any allegation
proceedings:
implied
review
related
the Exchange
for the
in
but
not
law.
admission
settlement
terms,
or its successors,
THEREFORE,
herein,
judicial
(d) to challenge
of any
or
to prohibit
to any matter
or expenses
the terms
263,
of intent
or any provision
its successor,
Part
of
otherwise
(b) to a hearing
respect
validity,
Order
he might
12 C.F.R.
Order;
Bechstein
by the Board
rights
(c) to obtain
hereof;
hereunder,
Order
of a notice
with
Order;
all
and
in this
evidence
or any provision
manner
set
forth
of taking
forth
Order
set
1818
issuance
signature
of this
any and
to 12 U.S.C.
on any matter
set
his
to the issuance
pursuant
purpose
by affixing
Order
of fact
solely
protracted
testimony
or law
constituting
or implied
and
of any
or
implied
an
by the Board
of
for the purpose
or extended
of
or
3
IT IS HEREBY
(i) (31, and
ORDERED,
(j) of the FDI Act
pursuant
to sections
8(e),
(12 U.S.C.
1818(e),
(i)(3),
and
written
approval
of
(j)), that:
1.
the Board
Bechstein,
of Governors
without
and,
the prior
where
section
8(e) (7) (B) of the FDI Act
another
federal
hereby
financial
and henceforth
(a)
From
8(e)(7) (A) of the FDI Act
institution,
attempting
consent,
any
from
(d)
institution
to, any
voting
with
or agency
(12 U.S.C.
insured
soliciting,
described
approved
agency,
in any manner
institution
or authorization
(cl
acting
limited
to transfer,
institution
previously
of any
or depository
(b)
1818(e) (7)(B)),
regulatory
participating
section
not
to
is
prohibited:
of the affairs
but
pursuant
(12 U.S.C.
institution
conduct
including,
necessary
or attempting
8(e)(7)(A)
by any
banking
party,
any proxy,
rights
of the FDI
in
Act;
agreement
agency;
for a director,
as an institution-affiliated
transferring,
to any voting
any voting
from voting
company;
to vote
from violating
federal
in
depository
procuring,
in section
specified
1818(e)(7)(A)),
holding
respect
in the
or
or serving
as defined
in
or
4
section
3(u)
employee,
of the FDI Act,
in any
such
institution
as an officer,
described
director
in section
or
8(e)(7)(A)
of
the FDI Act.
2.
subject
both
under
shall
stayed,
violation
Bechstein
Order
criminal
8 of the FDI Act
This
remain
of this
to appropriate
section
3.
and
Any
Order,
fully
modified,
and
each
effective
terminated
shall
or civil
(12 U.S.C.
and
and
separately
every
or
1818).
provision
enforceable
or suspended
penalties
hereof,
until
in writing
is
expressly
by the Board
of Governors.
4.
addressed
All
communications
regarding
this
Order
shall
be
to:
5.
(a)
Mr. R. Chris Moore
Senior Vice President
Federal Reserve Bank of Cleveland
1455 East Sixth Street
44101
Cleveland,
Ohio
(b)
Mr. Jerome C. Bechstein
16967 Bowling Green Road West
43402
Bowling Green, Ohio
The provisions
or otherwise
prevent
state
or department
agency
of this
the Board
from
Order
of Governors
taking
any
shall
not bar,
or any
other
federal
action
estop,
or
affecting
5
Bechstein,
Towne,
Exchange,
institution-affiliated
By order
parties
of the Board
13%
Bancorp
or any
former
or current
thereof.
of Governors
_
effective
this
, 1998.
BOARD OF GOVERNORS
OF THE
FEDERAL RESERVE SYSTEM
/
&zLc
By:
Bechstein
Secretary
of the Board