Former Georgia banker fined $10,000

Trae D. Dorough, a former institution affiliated party of Montgomery Bank & Trust (now in receivership), was issued a stipulated order to pay $10,000 by the FDIC on April 18, 2018. The FDIC determined, and Dorough neither admits nor denies, that Dorough, on or about April 30, 2012, caused the bank to understate its allowance for loan and lease losses in the bank's Report of Condition and Income (Call Report) as of March 31, 2012, and therefore caused or permitted the Bank to violate 12 U.S.C. § 1817(a)(l), which prohibits insured State nonmember banks from submitting or publishing false or misleading Call Reports.