Exhibit 10.2

FEDERAL DEPOSIT INSURANCE CORPORATION

WASHINGTON, D.C.

AND

STATE OF ILLINOIS

DEPARTMENT OF FINANCIAL AND PROFESSIONAL REGULATION

DIVISION OF BANKING

SPRINGFIELD, ILLINOIS

 

     )    In the Matter of    )    STIPULATION AND CONSENT    )    TO THE
ISSUANCE OF A COMMUNITY BANK-    )    CONSENT ORDER         WHEATON/GLEN ELLYN
   )    GLEN ELLYN, ILLINOIS    )       )    (Illinois Chartered    )   
FDIC-10-713b         Insured Nonmember Bank)    )    2010- DB- 102      )   

Subject to the acceptance of this STIPULATION AND CONSENT TO THE ISSUANCE OF A
CONSENT ORDER (“STIPULATION”) by the Federal Deposit Insurance Corporation
(“FDIC”) and Illinois Department of Financial and Professional Regulation,
Division of Banking (“Division”) it is hereby stipulated and agreed by and among
representatives of the FDIC, Division and Community Bank-Wheaton/Glen Ellyn,
Glen Ellyn, Illinois, (“Bank”) as follows:

1. The Bank has been advised of its right to receive

--------------------------------------------------------------------------------

a NOTICE OF CHARGES AND OF HEARING (“NOTICE”) detailing the alleged unsafe or
unsound banking practices and violations of law, rule or regulation alleged to
have been committed by the Bank, and of its right to a hearing on the charges
under Section 8(b) of the Federal Deposit Insurance Act (“Act”), 12 U.S.C. §
1818(b), and 38 111. Adm. Code, Section 392 et seq., regarding hearings before
the Division, and has knowingly waived those rights;

2. The Bank, solely for the purpose of this proceeding and without admitting or
denying any of the alleged charges of unsafe or unsound banking practices or
violations of law, rule or regulation, hereby consents and agrees to the
issuance of a CONSENT ORDER (“ORDER”) by the FDIC and the Division;

3. The Bank further stipulates and agrees that such ORDER shall be deemed to be
a consent order which has become final and unappealable, and that the ORDER
shall become effective immediately upon issuance by the FDIC and the Division
and fully enforceable by the FDIC and the Division pursuant to the provisions
Section 8(i) of the Act, 12 U.S.C. § 1818 (i), and Section 48(6) of the Illinois
Banking Act, 205 ILCS 5/48 (6), respectively, subject only to the conditions set
forth in paragraph 4 of this STIPULATION;

 

2

--------------------------------------------------------------------------------

4. In the event the FDIC and the Division accept this STIPULATION and issue the
ORDER, it is agreed that no action to enforce the ORDER will be taken by the
FDIC in the United States District Court or the appropriate Federal Circuit
Court, or by the Division in the appropriate State Circuit Court, unless the
Bank, any of its institution-affiliated parties, as that term is defined in
Section 3(u) of the Act, 12 U.S.C.§ 1813(u), or any of its successors or
assigns, has violated or is about to violate any provision of the ORDER;

5. The Bank hereby waives:

(a) The receipt of a NOTICE;

(b) All defenses and counterclaims of any kind to this proceeding;

(c) A hearing for the purpose of taking evidence on the allegations in the
NOTICE;

(d) The filing of proposed findings of fact and conclusions of law;

(e) A recommended decision of an Administrative Law Judge; and

(f) Exceptions and briefs with respect to such recommended decision.

 

3

--------------------------------------------------------------------------------

Dated this 21st day of January, 2011.

 

FEDERAL DEPOSIT INSURANCE CORPORATION, LEGAL DIVISION    

COMMUNITY BANK -WHETON/GLEN ELLYN

GLEN ELLYN, ILLINOIS

By:     By: /s/ Richard C. Rowley     /s/ William F. Behrmann

Richard C. Rowley

Senior Regional Attorney

   

William F. Behrmann

Director

      /s/ Penny Belke    

Penny Belke

Director

STATE OF ILLINOIS DEPARTMENT OF FINANCIAL AND PROFESSIONAL REGULATION     /s/ H.
David Clayton By:    

H. David Clayton

Director

/s/ Jorge A. Solis     /s/ Raymond A. Dieter, Jr.

Jorge A. Solis

Director

Division of Banking

   

Raymond A. Dieter, Jr.

Director

      /s/ Donald H. Fischer    

Donald H. Fischer

Chairman & Director

      /s/ Robert Haeger    

Robert Haeger

Director

      /s/ Scott W. Hamer    

Scott W. Hamer

President, CEO, & Director

 

4

--------------------------------------------------------------------------------

 

      /s/ Mary Beth Moran    

Mary Beth Moran

Director

      /s/ Joseph S. Morrissey    

Joseph S. Morrissey

Director

      /s/ John M. Mulherin    

John M. Mulherin

Director

   

 

Comprising the Board of Directors of

COMMUNITY BANK -

        WHEATION/GLEN ELLYN

GLEN ELLYN, ILLINOIS

 

5