Robert Gunville Jr., Fmr. Chairman, The First National Bank of Niagara, Niagara, WI
Niagara, WI
Fine Amount:
$30,000
Penalty Type:
Issued by:
The Comptroller finds, and Respondent neither admits nor denies, the following:
(1) From February 20, 1990 to April 8, 2013, Respondent was the Chairman of the Board of Directors of the Bank.
(2) On April 8, 2013, the Comptroller and Respondent entered into the 2013 Order, based upon the Comptroller’s findings that Respondent engaged in or caused the Bank to engage in numerous violations of law and unsafe or unsound banking practices and that Respondent engaged in numerous breaches of his fiduciary duty to the Bank. Such violations, practices and breaches were for Respondent’s financial gain and to the detriment of the Bank.
(3) Respondent failed to pay off or otherwise remove all extensions of credit he and his related interests maintain at the Bank, other than those that are fully secured by certificates of deposit held at the Bank, within sixty days of the date of the 2013 Order, in violation of Article IV, Paragraph (4) of the 2013 Order. Respondent continues to violate this provision of the 2013 Order and has been in violation since June 14, 2013.
print
share