Stipulation to the Issuance of a Consent Order



 Exhibit 10.1 
 FEDERAL DEPOSIT INSURANCE CORPORATION 
 WASHINGTON, D.C. 

and 
 STATE OF
NORTH CAROLINA 
 COMMISSIONER OF BANKS 
 RALEIGH, NORTH CAROLINA 
  

					
	  
	 	)	  	
	In the Matter of	 	)	  	STIPULATION TO THE ISSUANCE
		 	)	  	OF A CONSENT ORDER
	ALLIANCE BANK & TRUST COMPANY	 	)	  	
	GASTONIA, NORTH CAROLINA	 	)	  	
		 	)	  	FDIC-11-570b
	(INSURED STATE NONMEMBER BANK)	 	)	  	
	  
	 	)	  	

 Subject to the acceptance of this STIPULATION TO THE ISSUANCE OF A CONSENT ORDER
(“STIPULATION”) by the Federal Deposit Insurance Corporation (“FDIC”), it is hereby stipulated and agreed by and between a representative of the Legal Division of the FDIC, a representative of the North Carolina Commissioner of
Banks (the “Commissioner”) and Alliance Bank & Trust Company, Gastonia, North Carolina, (“Bank”), through its Board of Directors, as follows: 
 1. The Bank has been advised of its right to receive a written Notice of Charges and of Hearing (“Notice”) detailing the unsafe or unsound banking practices or violations of law or regulation
relating to weaknesses in capital, asset quality, management, earnings, liquidity, sensitivity to market risk, and information technology alleged to have been committed by the Bank and of its right to a hearing on the alleged charges under section
8(b)(1) of the Federal Deposit Insurance Act (“Act”), 12 U.S.C. § 1818(b)(1), and the FDIC’s Rules of Practice and Procedure (“Rules”), 12 C.F.R. Part 308, and has waived those rights. 

  
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 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 any violations of law or regulation, hereby consents and agrees to the issuance of a Consent Order (“ORDER”) by the FDIC and the Commissioner in the form attached hereto. The
Bank further stipulates and agrees that such ORDER shall become effective immediately upon issuance by the FDIC and the Commissioner and be fully enforceable by the FDIC pursuant to the provisions of section 8(i)(1) of the Act, 12 U.S.C. §
1818(i)(1), and the Rules, and by the Commissioner pursuant to of N.C. Gen. Stat. § 53-107.1, subject only to the conditions set forth in paragraph 3 of this STIPULATION. 
 3. In the event the FDIC accepts this STIPULATION and issues the ORDER, it is agreed that no action to enforce said ORDER in the United States District Court will be taken by the FDIC unless the Bank or
any “institution-affiliated party”, as such term is defined in section 3(u) of the Act, 12 U.S.C. § 1813(u), has violated or is about to violate any provision of the ORDER. 

4. The Bank hereby waives: 
  

	 	(a)	the receipt of a written Notice; 

  

	 	(b)	all defenses to the charges to be set forth in the Notice; 

  

	 	(c)	a hearing for the purpose of taking evidence regarding the allegations to be set forth 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 


  
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	 	(f)	exceptions and briefs with respect to such Recommended Decision. 

 Dated: The 24th day of January, 2012. 
  

	
	 FEDERAL DEPOSIT INSURANCE CORPORATION
 LEGAL DIVISION

	
	BY:
	
	 /s/ Andrew B. Williams II

	Andrew B. Williams II
	Senior Regional Attorney
	
	NORTH CAROLINA COMMISSIONER OF BANKS
	
	BY:
	
	 /s/ Joseph A. Smith, Jr.

	Joseph A. Smith, Jr.
	Commissioner of Banks
	State of North Carolina
	
	ALLIANCE BANK & TRUST COMPANY
	GASTONIA, NORTH CAROLINA
	
	BY:
	
	 /s/ Kenneth C. Appling

	Kenneth C. Appling
	
	 /s/ Kelvin C. Harris, M.D.

	Kelvin C. Harris, M.D.
	
	 /s/ Susan J. Joyner

	Susan J. Joyner


  
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	 /s/ Jerry L. Kellar

	Jerry L. Kellar
	
	 /s/ Gerald F. McSwain

	Gerald F. McSwain
	
	 /s/ Wayne F. Shovelin

	Wayne F. Shovelin
	
	 /s/ Carl J. Stewart, Jr.

	Carl J. Stewart, Jr.
	
	 /s/ H. Gene Washburn, M.D.

	H. Gene Washburn, M.D.
	
	 /s/ John H. Whaley

	John H. Whaley
	
	 /s/ David W. White

	David W. White
	
	 /s/ Jack R. Williams

	Jack R. Williams
	
	THE BOARD OF DIRECTORS


  
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