EX-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

CIBM BANK

CHAMPAIGN, ILLINOIS

(Illinois Chartered

Insured Nonmember Bank)

	 	

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	 	STIPULATION AND CONSENT

TO THE ISSUANCE OF A

CONSENT ORDER



FDIC-10-062b

DB NO. 2010-DB-14









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 CIBM Bank, Champaign, 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 under 38
Ill. Adm. Code, Section 392 et seq., and Section 3-103 of the Illinois Administrative Review Act,
735 ILCS 5/3-103, 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 upon the
date of 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)(b) of
the Illinois Banking Act, 205 ILCS 5/48 (6)(the “Illinois Act”), respectively, subject only to the
conditions set forth in paragraph 4 of this STIPULATION;



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.



Dated this 26th day of April, 2010.



FEDERAL DEPOSIT INSURANCE CORPORATION, LEGAL DIVISION



By:



                                                       


Richard C. Rowley


Senior Regional Attorney



STATE OF ILLINOIS


DEPARTMENT OF FINANCIAL AND PROFESSIONAL REGULATION



By:



                                                       


Jorge A. Solis


Director, Division of Banking



CIBM BANK


CHAMPAIGN, ILLINOIS



By:



                                                       


Charles E. Baker


Director



                                                       


John P. Hickey, Jr.


President, CEO & Director



                                                       


Gary L. Longman


Director



                                                       


Charles D. Mires


Director



                                                       


Ronald E. Rhoades


Director



                                                       


Donald Trilling


Director



                                                       


Howard Zimmerman


Director