Iowa banker issued order for CMP and prohibition

Kevin H. Slater was issued an Order of Prohibition from Further Participation and and Order to Pay a $12,500 civil money penalty by the FDIC, which had determined that Slater had engaged in unsafe or unsound baking practices and/or breaches of fiduciary duty as an institution-affiliated party of Fairfax State Savings Bank, Fairfax, Iowa, and that such practices and breaches involved personal dishonesty and continuing disregard for the safety or soundness of the bank.