Attached files
| file | filename |
|---|---|
| EX-10.2 - EXHIBIT 10.2 - PLUMAS BANCORP | c14203exv10w2.htm |
| EX-99.1 - EXHIBIT 99.1 - PLUMAS BANCORP | c14203exv99w1.htm |
| 8-K - FORM 8-K - PLUMAS BANCORP | c14203e8vk.htm |
Exhibit 10.1
FEDERAL DEPOSIT INSURANCE CORPORATION
WASHINGTON, D.C.
CALIFORNIA DEPARTMENT OF FINANCIAL INSTITUTIONS
SAN FRANCISCO, CALIFORNIA
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In the Matter of |
) | |||||||
| ) | STIPULATION TO THE ISSUANCE | |||||||
PLUMAS BANK |
) | OF A CONSENT ORDER | ||||||
QUINCY, CALIFORNIA |
) | |||||||
| ) | FDIC-11-035b | |||||||
(INSURED STATE NONMEMBER BANK) |
) | |||||||
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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 California Department
of Financial Institutions (“CDFI”), it is hereby stipulated and agreed by and between a
representative of the Legal Division of FDIC, a representative of the CDFI, and Plumas Bank,
Quincy, California (“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)(l) of the Federal Deposit Insurance Act
(“Act”), 12 U.S.C. § 1818(b)(l), and Section 298 of the California Financial Code (“CFC”), 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”) by the FDIC and the CDFI. 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 CFC, and that said Order shall
become effective upon its issuance by the FDIC and the CDFI, and fully enforceable by the FDIC and
the CDFI pursuant to the provisions of the Act and the CFC.
3. In the event the FDIC and the CDFI 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
CDFI,
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 Actual or 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. |
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Dated: |
March 16, 2011 | |||||||||
| FEDERAL DEPOSIT INSURANCE | CALIFORNIA DEPARTMENT OF | |||||||||
| CORPORATION, LEGAL DIVISION | FINANCIAL INSTITUTIONS | |||||||||
BY:
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BY: | |||||||||
| /s/ Lorraine Y. Sumulong |
/s/ Diana Nishiura
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| for Sherry A. Betancourt | Diana Nishiura | |||||||||
| Honors Attorney | Senior Counsel | |||||||||
PLUMAS BANK
QUINCY, CALIFORNIA
BY:
QUINCY, CALIFORNIA
BY:
/s/ Alvin G. Blickenstaff
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/s/ Arthur Grohs
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/s/ William E. Elliott
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/s/ Robert J. McClintock
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/s/ Gerald W. Fletcher
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/s/ Terrance J. Reeson
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/s/ John Flournoy
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/s/ Daniel E. West
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John Flournoy
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Daniel E. West |
Comprising the Board of Directors of
Plumas Bank
Quincy, California
Plumas Bank
Quincy, California
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