Enforcement actions - Announcements - Brief Article

Federal Reserve Bulletin, August, 2003

The Federal Reserve Board on June 16, 2003, announced the execution of a written agreement by and between Southern Commercial Bank, St. Louis, Missouri, and the Federal Reserve Bank of St. Louis.

The Federal Reserve Board on June 24, 2003, announced the issuance of a Consent Order of Assessment of a Civil Money Penalty against the Centennial Bank of the West, Fort Collins, Colorado, a state member bank. Centennial Bank of the West, 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 Centennial Bank of the West to pay a civil money penalty of $3,000, which will be remitted to the Federal Emergency Management Agency for deposit into the National Flood Mitigation Fund.

The Federal Reserve Board on June 24, 2003, announced the issuance of a Consent Order of Assessment of a Civil Money Penalty against the Community First Bank & Trust, Celina, Ohio, a state member bank.

Community First Bank & Trust, 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 Community First Bank & Trust to pay a civil money penalty of $5,500, which will be remitted to the Federal Emergency Management Agency for deposit into the National Flood Mitigation Fund.