February 13, 2012
A federal judge on Monday dismissed a securities class action and scaled back a related $26.2 million Federal Deposit Insurance Corp. lawsuit against ex-officers and directors of the now-defunct First Centennial Bank who allegedly disregarded the bank's underwriting standards in issuing 16 risky commercial real estate loans.
January 26, 2011
The Federal Deposit Insurance Corp. is suing 14 officers and directors of now-defunct First Centennial Bank, saying they drove the bank into the ground and forced the FDIC to pay $163 million to cover depositors.