C.F.R. » Title 12 » CHAPTER III—FEDERAL DEPOSIT INSURANCE CORPORATION › SUBCHAPTER A—PROCEDURE AND RULES OF PRACTICE › PART 303—FILING PROCEDURES › Subpart F—Change of Director or Senior Executive Officer

12 C.F.R. § 303.101

Definitions

Read at: eCFRecfr.gov CornellLII GovInfogovinfo.gov CasesGoogle Scholar

For purposes of this subpart:

(a) Director means a person who serves on the board of directors or board of trustees of an FDIC-supervised institution, except that this term does not include an advisory director who:

(1) Is not elected by the shareholders;

(2) Is not authorized to vote on any matters before the board of directors or board of trustees or any committee thereof;

(3) Solely provides general policy advice to the board of directors or board of trustees and any committee thereof; and

(4) Has not been identified by the FDIC as a person who performs the functions of a director for purposes of this subpart.

(b) Senior executive officer means a person who holds the title of president, chief executive officer, chief operating officer, chief managing official (in an insured state branch of a foreign bank), chief financial officer, chief lending officer, chief investment officer, or, without regard to title, salary, or compensation, performs the function of one or more of these positions. Senior executive officer also includes any other person identified by the FDIC, whether or not hired as an employee, with significant influence over, or who participates in, major policymaking decisions of the FDIC-supervised institution.

(c) Troubled condition means any FDIC-supervised institution that:

(1) Has a composite rating, as determined in its most recent report of examination, of 4 or 5 under the Uniform Financial Institutions Rating System (UFIRS), or in the case of an insured state branch of a foreign bank, an equivalent rating; or

(2) Is subject to a proceeding initiated by the FDIC for termination or suspension of deposit insurance; or

(3) Is subject to a cease-and-desist order or written agreement issued by either the FDIC or the appropriate state banking authority that requires action to improve the financial condition of the FDIC-supervised institution or is subject to a proceeding initiated by the FDIC or state authority which contemplates the issuance of an order that requires action to improve the financial condition of the FDIC-supervised institution, unless otherwise informed in writing by the FDIC; or

(4) Is informed in writing by the FDIC that it is in troubled condition for purposes of the requirements of this subpart on the basis of the FDIC-supervised institution's most recent report of condition or report of examination, or other information available to the FDIC.

(d) FDIC-supervised institution means any entity for which the FDIC is the appropriate Federal banking agency pursuant to section 3(q) of the FDI Act, 12 U.S.C. 1813(q).

[67 FR 79247, Dec. 27, 2002, as amended at 85 FR 3244, Jan. 21, 2020]
Notes of Decisions
Cited in 8 cases, 2012–2019 · leading case: Rosenberger v. United Cmty. Bancshares, Inc, 2017 IL App (1st) 161102 (Ill. App. Ct. 2017).
Sort: Relevance Newest Treatment
Rosenberger v. United Cmty. Bancshares, Inc, 2017 IL App (1st) 161102 (Ill. App. Ct. 2017). “" See 12 C.F.R. § 303.101 (c) (2012). ¶9 On April 13, 2013, Rosenberger received an annual performance evaluation for 2012.”
Vernon Hill, II v. TD Bank NA, 586 F. App'x 874 (3rd Cir. 2014). “” 12 C.F.R. § 303.101 (c)(3). Hill urges that the second part of this defini tion — i.”
Rosenberger v. United Cmty. Bancshares, Inc, 2017 IL App (1st) 161102 (Ill. App. Ct. 2017). “” See 12 C.F.R. § 303.101 (c) (2012). ¶9 On April 13, 2013, Rosenberger received an annual performance evaluation for 2012.”
Paul B. Harrison v. Ocean Bank, 614 F. App'x 429 (11th Cir. 2015). “At the time of Harrison’s terminatibn and the execution of the agreement, the FDIC had classified Ocean Bank as being in a “troubled condition,” pursuant to 12 C.F.R. § 303.101 (c). As such, Ocean Bank was generally prohibited from making “golden parachute” payments without…”
Mountain Heritage Bank v. Rogers, 728 S.E.2d 914 (Ga. Ct. App. 2012). “See 12 CFR § 303.101 (c) (3). Troubled banks are generally prohibited from making golden parachute payments without the consent of the appropriate federal banking agency and the written concurrence of the FDIC.”
C.Bruce Batten v. Cmty. Trust & Banking Co. - Dissent in Part (Tenn. Ct. App. 2019). “12 C.F.R. § 303.101 (c). 5 Institution–affiliated party (IAP) means: (1) Any director, officer, employee, or controlling stockholder (other than a depository institution holding company) of, or agent for, an insured depository institution or depository -6- prohibited golden…”
Paul B. Harrison v. Ocean Bank (11th Cir. 2015). “At the time of Harrison’s termination and the execution of the agreement, the FDIC had classified Ocean Bank as being in a “troubled condition,” pursuant to 12 C.F.R. § 303.101 (c). As such, Ocean Bank was generally prohibited from making “golden parachute” payments without…”
Mountain Heritage Bank v. Jerry Rogers (Ga. Ct. App. 2012). “We agree that the severance pay at issue was 4 prohibited as a golden parachute payment as defined under the federal banking regulations. The evidence establishes that the Bank was subject to a cease-and-decease order issued by the FDIC, and thus, was considered to be in…”
Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.