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SC banker fined and banned for fraudulent lending

Walhalla, SC
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David L. Peters, formerly a senior vice president and/or senior credit administrator of Community First Bank, Inc., Walhalla, SC, was found by the FDIC to have, during a period from October 2013 until January 2014, knowingly made no fewer than fourteen.(14) unauthorized loans totaling no less than $723,071.00. The proceeds from these loans were used by persons or entities other than the named borrowers. The loans were made without the nominal customers' authorization, and for the sole purpose of paying off previously-made loans.

Peters was ordered to pay a CMP of $5,000 and was issued an order of prohibition.

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