FEDERAL DEPOSIT INSURANCE CORPORATION
10.1
FEDERAL
DEPOSIT INSURANCE CORPORATION
WASHINGTON,
D.C.
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In
the Matter of
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STIPULATION
AND CONSENT
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TO
THE ISSUANCE OF AN
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REPUBLIC
BANK & TRUST COMPANY
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ORDER
TO CEASE AND DESIST
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LOUISVILLE,KENTUCKY
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FDIC-08-308b
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(Insured
State Nonmember Bank)
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Subject to the acceptance of this STIPULATION AND CONSENT TO THE ISSUANCE OF AN ORDER TO CEASE AND DESIST ("CONSENT AGREEMENT") by the Federal Deposit Insurance Corporation ("FDIC") it is hereby stipulated and agreed by and among representatives of the FDIC and Republic Bank & Trust Company, Louisville, Kentucky ("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 and unsound banking practices alleged to have
been committed by the Bank and of its right to a hearing on the charges under
section 8(b) of the Federal Deposit Insurance Act ("Act"), 12 U.S.C. § 1818(b),
and has knowingly waived that right.
2. The
Bank, solely for the purpose of this proceeding and without admitting or denying
any of the charges of unsafe or unsound banking practices, hereby consents and
agrees to the issuance of an ORDER TO CEASE AND DESIST ("ORDER") by the
FDIC.
3. The
Bank further stipulates and agrees that such ORDER shall be deemed to be a
cease-and-desist order which has become final and unappealable, and that the
ORDER shall become effective ten (10) days after its issuance by the FDIC and
fully enforceable by the FDIC pursuant to the provisions of section 8(i) of the
Act, 12 U.S.C. § 1818(i), subject only to the conditions set forth in paragraph
4 of this CONSENT AGREEMENT.
4. In
the event the FDIC accepts this CONSENT AGREEMENT and issues the ORDER, it is
agreed that no action to enforce the ORDER will be taken by the FDIC in the
United States District Court or the appropriate Federal Circuit Court unless the
Bank, any Bank institution-affiliated party, as that term is defined in section
3(u) of the Act, 12 U.S.C. § 1813(u), or any of its successors or assigns, has
violated or is about to violate any provision of the ORDER.
5. The
Bank hereby waives:
(a) The
receipt of a NOTICE;
(b) All
defenses and counterclaims of any kind to this
proceeding;
(c) A
hearing for the purpose of taking evidence on the
allegations in the NOTICE;
(d) The
filing of proposed findings of fact and conclusions
of law;
(e) A
recommended decision of an Administrative Law Judge;
and
(f) Exceptions
and briefs with respect to such recommended
decision.
Dated
this 20th day of February, 2009.
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FEDERAL
DEPOSIT INSURANCE
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REPUBLIC
BANK & TRUST COMPANY
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CORPORATION,
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LOUISVILLE,
KENTUCKY
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LEGAL
DIVISION
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By:
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By:
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/s/ Xxxxx X. XxXxxxx
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/s/ Xxxxxx X Xxxxxx
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Xxxxx X. XxXxxxxx
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Xxxxxx X. Xxxxxx
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Deputy Regional Counsel
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Director
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/s/ Xxxxxxxx Xxxxx
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Xxxxxxxx Xxxxx
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Director
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/s/ Xxxx Xxxxxx
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Xxxx Xxxxxx
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Director
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/s/ Xxxxx X. Xxxxxxx
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Xxxxx X. Xxxxxxx
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Director
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/s/ Xxxxxx X. Xxxxxxx
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Xxxxxx X. Xxxxxxx
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Director
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/s/ X. Xxxxx Xxxxx
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X. Xxxxx Xxxxx
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Director
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/s/ Xxx Xxxxxx
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Xxx Xxxxxx
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Director
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/s/ Xxxx Xxxxx
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Xxxx Xxxxx
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Director
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/s/ Xxxx Xxxxx Xxxxx
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Xxxx Xxxxx Xxxxx
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Director
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/s/ X. Xxxxx Xxxxxx
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X. Xxxxx Xxxxxx
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Director
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/s/ Xxxxxxx X. Xxxxxx
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Xxxxxxx X. Xxxxxx
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Director
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/s/ Xxxxxx X. Xxxxxx
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Xxxxxx X. Xxxxxx
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Chairman of the Board
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Comprising the Board of
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Directors of
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REPUBLIC BANK & TRUST
COMPANY
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LOUISVILLE,
KENTUCKY
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