Risky Loans Cost Calif. Bank $42M, Led To Demise: FDIC

Law360, New York (January 30, 2012, 4:45 PM EST) -- The Federal Deposit Insurance Corp. sued the former officers of California-based County Bank in federal court Friday, claiming they authorized risky and ill-advised commercial real estate loans that cost the bank more than $42 million and led to its 2009 failure.

County Bank's former CEO Thomas T. Hawker, chief operating officer and president Edward J. Rocha, and vice presidents John J. Incandela, Dave Kraechan and Edwin Jay Lee repeatedly disregarded the bank's credit policies and approved loans to borrowers who weren't creditworthy, or for projects that...
To view the full article, register now.




Case Information

Case Title

Federal Deposit Insurance Corporation v. Hawker et al

Case Number



California Eastern

Nature of Suit

Banks and Banking


Stanley A Boone

Date Filed

January 27, 2012

Law Firms

Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.