Office of Thrift Supervision

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FOR RELEASE at 3:00 P.M. EST For further information
Thursday, February 10, 2000 Contact: Ella P. Allen
OTS 00-13 202/906-6924

OTS Releases December Enforcement Statistics

WASHINGTON, D.C., Feb., 10, 2000 -- The Office of Thrift Supervision (OTS) reported today that it completed six enforcement actions in December 1999.

This brought to 57 the number of enforcement actions by OTS since January 1, 1999.

For the month of December 1999 there were:

Distribution among the five OTS regions was as follows:

  NE SE Central Midwest West Total
Removal and/or Prohibition  0  0    0     0   0   0
Cease and Desist Order  0  0    0     0   0   0
Prompt Corrective Action  0  0    0     0   0   0
Supervisory Agreement  0  0    1     0   0   1
Civil Money Penalties  0  0    0     5   0   5
Total  0  0    1     5   0   6

The following orders were issued in December:

  1. Robert W. Decook, president, chairman of the Board and director of Horizon Federal Savings Bank, Oskaloosa, Iowa, order of assessment of civil money penalty, dated December 2, 1999.
  2. Thomas L. Gillespie, vice president and director of Horizon Federal Savings Bank, Oskaloosa, Iowa, order of assessment of civil money penalty, dated December 2, 1999.
  3. Norman P. Zimmerman, director of Horizon Federal Savings Bank, Oskaloosa, Iowa, order of assessment of civil money penalty, dated December 2, 1999.
  4. Gary L. Rozenboom, director of Horizon Federal Savings Bank, Oskaloosa, Iowa, order of assessment of civil money penalty, dated December 2, 1999.
  5. Dwight L. Groves, director of Horizon Federal Savings Bank, Oskaloosa, Iowa, order of assessment of civil money penalty, dated December 2, 1999.
  6. Middlesboro Federal Bank, FA, Middlesboro, Ky., supervisory agreement dated December 13, 1999.
  7. Board of Directors, First Trade Union Bank, Boston, Ma., termination of supervisory agreement of November 3, 1997, dated December 14, 1999.

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    The Office of Thrift Supervision (OTS), an office of the U.S. Treasury, regulates and supervises the nation's thrift industry. OTS's mission is to ensure the safety and soundness of thrift institutions and to support their role as home mortgage lenders and providers of other community credit and financial services. For copies of news releases or other documents visit the OTS web page at www.ots.treas.gov.


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    Created: Thursday, 2/10/2000