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Former Georgia bank director fined $10,000

Atlanta, GA
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The OCC has issued an Order Assessing a Civil Money Penalty of $10,000 against William R. Blanton, former director and interim CEO and vice chairman of Uniated Americas Bank, N.A., Atlanta, Georgia. The OCC found that Blanton (1) permitted a series of large overdrafts by a significant customer of the bank, without adequate controls in place, when capital levels were critically deficient, and (2) rebooked a series of previously written-down loans in contravention of generally accepted accounting principles and Consolidated Reports of Condition and Income (“Call Report”) instructions, causing the bank to file materially inaccurate Call Reports in violation of 12 U.S.C. § 161.

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