Bank's former CFO/director fined for multiple violations

The FDIC has issued a consent order for the payment of a $2,500 civil money penalty to Tracy L. Robison, formerly the chief financial officer and a director of The Farmers Bank, Carnegie, Oklahoma. The FDIC found, and Robison neither admits nor denies that, between July 2017 and August 2018, Robison provided critically deficient oversight of senior management’s compliance with laws and regulations, insider abuse, conflicts of interest, poor internal controls, and weak credit underwriting and administration, and engaged in acts and omissions that resulted in multiple violations of law or regulation, which actions were recklessly unsafe and unsound and were part of a pattern of misconduct.