Attached files
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EX-10.1 - EXHIBIT 10.1 - First Financial Northwest, Inc. | ex101.htm |
EX-99.1 - EXHIBIT 99.1 - First Financial Northwest, Inc. | ex99192210.htm |
8-K - FIRST FINANCIAL NORTHWEST, INC. FORM 8-K - First Financial Northwest, Inc. | k892210.htm |
Exhibit
10.2
FEDERAL
DEPOSIT INSURANCE CORPORATION
WASHINGTON,
D.C.
WASHINGTON
DEPARTMENT OF FINANCIAL INSTITUTIONS
OLYMPIA,
WASHINGTON
In
the Matter
of
FIRST
SAVINGS BANK
NORTHWEST
RENTON,
WASHINGTON
(INSURED
STATE NONMEMBER
BANK)
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STIPULATION
TO THE ISSUANCE
OF
A CONSENT ORDER
FDIC-10-524b
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Subject
to the acceptance of this Stipulation to the Issuance of a Consent Order
("Stipulation") by the Federal Deposit Insurance Corporation ("FDIC") and the
Washington Department of Financial Institutions ("WDFI"), it is hereby
stipulated and agreed by and between a representative of the Legal Division of
FDIC, a representative of the WDFI, and First Savings Bank Northwest, Renton,
Washington ("Bank"), as follows:
1. The Bank
has been advised of its right to receive a Notice of Charges and of Hearing
("Notice") detailing the unsafe or unsound banking practices and violations of
law and/or regulations alleged to have been committed by the Bank and of its
right to a public hearing on the alleged charges under section 8(b)(1) of the
Federal Deposit Insurance Act ("Act"), 12 U.S.C. § 1818(b)(1), and Revised Code
of Washington Anno. § 30.04.450 ("RCW"), and has waived those
rights.
2. The Bank,
solely for the purpose of this proceeding and without admitting or denying any
of the alleged charges of unsafe or unsound banking practices and any violations
of law and/or regulations, hereby consents and agrees to the issuance of a
Consent Order ("Order")
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by the
FDIC and the WDFI. The Bank further stipulates and agrees that such Order will
be deemed to be an order which has become final under the Act and the RCW, and
that said Order shall become effective upon its issuance by the FDIC and the
WDFI, and fully enforceable by the FDIC and the WDFI pursuant to the provisions
of the Act and the RCW.
3. In the
event the FDIC and the WDFI accept the Stipulation and issue the Order, it is
agreed that no action to enforce said Order in the United States District Court
will be taken by the FDIC, and no action to enforce said Order in State Superior
Court will be taken by the WDFI, unless the Bank or any institution-affiliated
party, as such term is defined in section 3(u) of the Act, 12 U.S.C. § 1813(u),
has violated or is about to violate any provision of the Order.
4. The Bank
hereby waives:
(a) The
receipt of a Notice;
(b) All
defenses in this proceeding;
(c) A public
hearing for the purpose of taking evidence on such alleged charges;
(d) The
filing of Proposed Findings of Fact and Conclusions of Law;
(e) A
recommended decision of an Administrative Law Judge;
(f) Exceptions
and briefs with respect to such recommended decision; and
(g) The right
to appeal.
Dated: September 22, 2010 | |
FEDERAL DEPOSIT INSURANCE | FIRST SAVINGS BANK NORTHWEST |
CORPORATION, LEGAL
DIVISION
BY:
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RENTON,
WASHINGTON
BY:
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/s/James L. Miller, FDIC Counsel | /s/Robert L. Anderson |
For
Elaine A. Laye
Counsel
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Robert L. Anderson |
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WASHINGTON
DEPARTMENT OF
FINANCIAL
INSTITUTIONS
BY:
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/s/Harry A.
Blencoe
Harry A.
Blencoe
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/s/Brad Williamson | /s/Gerald Edlund |
Brad
Williamson
Director of Banks
Washington Department of Financial
Institutions
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Gerald
Edlund
/s/Gary F.
Faull
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Gary F. Faull | |
/s/Victor Karpiak | |
Victor Karpiak | |
/s/Gary F. Kohlwes | |
Gary F. Kohlwes | |
/s/Joann E. Lee | |
Joann E. Lee | |
/s/Robert W. McLendon | |
Robert W. McLendon | |
Comprising
the Board of Directors of
First
Savings Bank Northwest
Renton,
Washington
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