Page 1

FEDERAL DEPOSIT INSURANCE CORPORATION

WASHINGTON, DC

 

In the Matter of

STIPULATON AND CONSENT
TO THE ISSUANCE OF AN
ORDER TO PAY

ALBERT C. KELLY, individually, and as an
institution-af?liated party of

SPIRITB ANK

TULSA, OKLAHOMA 

(INSURED STATE NONMEMBER BANK)



 

Subject to the acceptance of the AND CONSENT TO THE ISSUANCE
OF AN ORDER TO PAY by the Federal Deposit Insurance
i1 is hereby stipulated and agreed by and between a representative of the
Legal Division of the FDIC and ALBERT C. KELLY ("Respondent"), as follows:

1. Respondent has been advised of the right to receive a OF
ASSESSMENT OF CIVIL MONEY PENALTY, FINDINGS OF FACT, AND CONCLUSIONS
OF LAW OF detailing an alleged violation of law or regulation,
for which an ORDER TO PAY a civil money penalty may issue. Respondent has been further
advised of the right to a hearing on the charges under section 8(i) of the Federal Deposit
Insurance Act 12 U.S.C. 1818(i), and the Rules of Practice and Procedure, 12
CPR. Part 308. Respondent is represented by counsel.

2. The FDIC has reason 10 believe that Respondent violated a law or regulation, by

entering into an agreement pertaining to a loan by the Bank without FDIC approval, in violation



Page 2

of Section 24 of the Act, 12 U.S.C. ?1831a; 12 C.F.R. Part 362.

3. Respondent, solely for the purpose of this proceeding and without admitting or
denying the violation, set forth in paragraph 2 of this CONSENT AGREEMENT, hereby
consents and agrees to the issuance of an ORDER TO PAY by the FDIC, and further consents
and agrees to pay a civil money penalty of8125,000. The penalty shall be paid to the Treasury
of the United States pursuant to the provisions of section of the Act= 12 U.S.C. 
1818(i)(2). Respondent further stipulates and agrees that such ORDER TO PAY shall be ?nal
and fully enforceable by the FDIC pursuant to the provisions of section of the Act, 12
U.S.C. 1818(i)(2)(I).

4. Respondent further agrees to pay the civil money penalty assessed by delivering
to the FDIC a check in the amount ot?8125,000, made payable to the Treasury of the United
States.

5. In the event the FDIC accepts this CONSENT AGREEMENT and issues the
ORDER TO PAY, it is agreed that no action will be taken by the FDIC to initiate any additional

enforcement actions under section 8(i) of the Act. 12 U.S.C. 1818(i), for the violation set forth

 

 

in paragraph 2 of this CONSENT AGREEMENT, or any action related to 00(4)

 

 

 

 

 

 

 

 

6. In the event the FDIC accepts this CONSENT AGREEMENT and issues the
ORDER TO PAY, Respondent agrees not to seek or accept indemni?cation from any insured
depository institution for the civi] money penalty assessed and paid in this matter.

7. Respondent hereby waives for purposes of this proceeding:

the receipt of a NOTICE OF 

2











Page 3

the right to present defenses to the allegations to he set forth in the
NO'l'lCh OF 

a hearing for the purpose of taking evidence on the allegations to be set
l'orlh in the Ol? 

the ?ling of proposed ?ndings of fact and conclusions of law;

a recommended decision of an administrative law judge;

exceptions and briefs with respect to such recommended decision; and

judicial review ofthe ORDER TO PAY as provided by

[2 11.81". 18l3(h), or any other challenge to the validity of the

ORDER PAY.

Dated this q?i day of . 2017.

FEDERAL 



 

 

 

 

 

 

 

 

 

 

Boyd W. Venahle

Senior Regional Attorney

RES PON DENT

Albert C. Kelly 

 

 

 

 



 
 

Page 1

FEDERAL DEPOSIT INSURANCE CORPORATION

WASHINGTON, DC.

 

In the Matter of

ALBERT C. KELLY, individually, and as an STIPULATON AND CONSENT

institution-af?liated party of TO THE ISSUANCE OF AN
ORDER TO PAY

SPIRITBANK

TULSA, OKLAHOMA FDIC-I 5-0180k

(INSURED STATE NONMEMBER BANK)



 

Subject to the acceptance of the STIPULATION AND CONSENT TO THE ISSUANCE
OF AN ORDER TO PAY by the Federal Deposit Insurance
Corporation i1 is hereby stipulated and agreed by and between a representative of the
Legal Division of the FDIC and ALBERT C. KELLY ("ReSpondent"), as follows:

1. Respondent has been advised of the right to receive a NOTICE OF
ASSESSMENT OF CIVIL MONEY PENALTY, FINDINGS OF FACT, AND CONCLUSIONS
OF LAW OF detailing an alleged violation of law or regulation,
for which an ORDER TO PAY a civil money penalty may issue. Respondent has been further
advised of the right to a hearing on the charges under section 8(i) of the Federal Deposit
Insurance Act 12 U.S.C. [818(i), and the Rules of Practice and Procedure, 12
C.F.R. Part 308. Respondent is represented by counsel.

2. The FDIC has reason 10 believe that Respondent violated a law or regulation, by

entering into an agreement pertaining to a loan by the Bank without FDIC approval, in violation



Page 2

of Section 24 of the Act, 12 U.S.C. ?1831a; 12 C.F.R. Part 362.

3. Respondent, solely for the purpose of this proceeding and without admitting or
denying the Violation, set forth in paragraph 2 of this CONSENT AGREEMENT, hereby
consents and agrees to the issuance of an ORDER TO PAY by the FDIC and further consents
and agrees to pay a civil money penalty of $125,000. The penalty shall be paid to the Treasury
ofthe United States pursuant to the provisions of section of the Act, 12 U.S.C. 
1818(i)(2). Respondent further stipulates and agrees that such ORDER TO PAY shall be ?nal
and fully enforceable by the FDIC pursuant to the provisions of section of the Act, 12
U.S.C. 1818(i)(2)(I).

4. Respondent further agrees to pay the civil money penalty assessed by delivering
to the FDIC a check in the amount 018125.000, made payable to the Treasury of the United
States.

5. In the event the FDIC accepts this CONSENT AGREEMENT and issues the
ORDER TO PAY, it is agreed that no action will be taken by the FDIC to initiate any additional

enforcement actions under section 8(i) of the Act, 12 U.S.C. 1818(1), for the violation set forth

 

 

 

 

 

in paragraph 2 of this CONSENT AGREEMENT, or any action related to 

 

 

 

 

 

6. In the event the FDIC accepts this CONSENT AGREEMENT and issues the
ORDER TO PAY, Respondent agrees not to seek or accept indemni?cation from any insured
depository institution for the civil money penalty assessed and paid in this matter.

7. Respondent hereby waives for purposes of this proceeding:

the receipt of a NOTICE OF 

2

 







(I)



Page 3

the right to present defenses to the allegations to he set forth in the
NO'l?lCli OF 

a hearing for the purpose of taking evidence on the allegations to he set
forth in the Ol" 

the tiling of proposed ?ndings of I?aet and conclusions of law;

a recommended decision of an administrative law judge;

exceptions and briefs with respect to such decision; and

judicial review of the ORDER TO PAY as provided by

l2 [1.8.0 or any other challenge to the validity ol'the

ORDER PAY.

Dated this 9% day of . 2017.

FEDERAL. INSURANCE.

COR PORATION

RESPONDENT

 

 

 

(91(2)

 

 

 

 

 

 

Boyd . Venahle

Senior Regional Attorney

Albert c. Kelly ZNNERXQ).