First Secure Bank and Trust pays $12,375 flood insurance-related penalty

"The FDIC considered the matter and determined that the Bank has engaged in a pattern or practice of committing violations of the FDPA and the notice requirements under section 1364 of the National Flood Insurance Act of 1968, 42 U.S.C. 4104a, and Part 339 of the FDIC Rules and Regulations, 12 C.F.R. Part 339, as follows:
• 12 C.F.R. § 339.3(a), by failing to obtain flood insurance on a building securing a designated loan at the time of the origination of three (3) loans;
• 12 C.F.R. § 339.7, by failing to follow force placement flood insurance procedures in seven (7) instances; and
• 12 C.F.R. § 339.9(a), by failing to provide to borrowers a Notice of Special Flood Hazard and Availability of Federal Disaster Relief Assistance when making, increasing, extending or renewing a loan on four (4) occasions."