Texas banker fined and banned from industry

The FDIC has issued an Order of Prohibition from Further Participation and to pay a $40,000 civil money penalty to CATANA GRAY, a former vice president of Herring Bank, Amarillo, Texas.

The FDIC determined and Gray neither admits nor denies that:

1. During 2015, while working for Herring Bank in her capacity as Vice President of the Corporate Trust Department of the Bank, Gray accepted a series of individual Church bonds with various maturities that will total $100,000 over a twenty-five year timeframe in the name of Gray and her husband from a bond broker on a bond issuance in which the Bank was acting as trustee, paying agent, disbursing agent and registrar. The Bank had worked with the bond broker for many years. Respondent did not disclose in writing to her supervisor the acceptance of the $100,000 in Church bonds. Respondent’s actions violated the Bank’s Ethics Policy.
2. Gray engaged and participated in unsafe or unsound practices in connection with the Bank, and breached her fiduciary duties owed to the Bank.
3. Her practices and breaches resulted in her receiving financial gain or other benefit.