ex102.htm


    Exhibit
10.2

    
 

    FEDERAL
DEPOSIT INSURANCE CORPORATION

     

    WASHINGTON,
D.C.

     

    WASHINGTON
DEPARTMENT OF FINANCIAL INSTITUTIONS

     

    OLYMPIA,
WASHINGTON

     

    
      	 	 	 
	
               

               

              In
      the Matter
      of                                                                           

               

              FIRST
      SAVINGS BANK
      NORTHWEST                                                                           

              RENTON,
      WASHINGTON                                                                           

               

              (INSURED
      STATE NONMEMBER
      BANK)                                                                           

               

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              STIPULATION
      TO THE ISSUANCE

              OF
      A CONSENT ORDER

               

              FDIC-10-524b

            


    

    


     

    Subject
to the acceptance of this Stipulation to the Issuance of a Consent Order
("Stipulation") by the Federal Deposit Insurance Corporation ("FDIC") and the
Washington Department of Financial Institutions ("WDFI"), it is hereby
stipulated and agreed by and between a representative of the Legal Division of
FDIC, a representative of the WDFI, and First Savings Bank Northwest, Renton,
Washington ("Bank"), as follows:

    1.  The Bank
has been advised of its right to receive a Notice of Charges and of Hearing
("Notice") detailing the unsafe or unsound banking practices and violations of
law and/or regulations alleged to have been committed by the Bank and of its
right to a public 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 Revised Code
of Washington Anno. § 30.04.450 ("RCW"), and has 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 and any violations
of law and/or regulations, hereby consents and agrees to the issuance of a
Consent Order ("Order")


    
      
        
          
            	
                     

                  


          

          


        

         


      

      
         


        
          

        

      

      
         


        
          
            	
                     

                  


          

          


        

      

    

     

     

    
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    by the
FDIC and the WDFI. The Bank further stipulates and agrees that such Order will
be deemed to be an order which has become final under the Act and the RCW, and
that said Order shall become effective upon its issuance by the FDIC and the
WDFI, and fully enforceable by the FDIC and the WDFI pursuant to the provisions
of the Act and the RCW.

    3.  In the
event the FDIC and the WDFI accept the Stipulation and issue the Order, it is
agreed that no action to enforce said Order in the United States District Court
will be taken by the FDIC, and no action to enforce said Order in State Superior
Court will be taken by the WDFI, 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 Notice;

           
(b)   All
defenses in this proceeding;

            (c)   A public
hearing for the purpose of taking evidence on such alleged charges;

           
(d)   The
filing of Proposed Findings of Fact and Conclusions of Law;

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

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

          
(g)   The right
to appeal.

     

     

    
       

      
        	Dated: September
      22, 2010	 
	 	 
	FEDERAL DEPOSIT
      INSURANCE 	FIRST SAVINGS BANK
      NORTHWEST 
	
                 

                CORPORATION, LEGAL
      DIVISION  

                BY:

              	
                RENTON,
      WASHINGTON

                BY:

              
	/s/James
      L. Miller, FDIC
      Counsel                        
      	/s/Robert L.
      Anderson                                            
      
	
                For
      Elaine A. Laye 

                      
      Counsel

              	Robert L.
      Anderson 


      

       

    

     


    
      
        
          
            	
                     

                     

                  


          

          


        

         


      

      
         


        
          

        

      

      
         


      

    

     

    
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                WASHINGTON
      DEPARTMENT OF 

                FINANCIAL
      INSTITUTIONS 

                BY:

              	
                
                  /s/Harry A.
      Blencoe                 
                        
      

                

                Harry A.
      Blencoe 

              
	/s/Brad
      Williamson                                                         
      	/s/Gerald
      Edlund                                          
      
	
                Brad
      Williamson 

                Director of Banks

                Washington Department of Financial
      Institutions

              	
                Gerald
      Edlund 

                 

                /s/Gary F.
      Faull                                            
      

              
	 	Gary F.
      Faull 
	 	 
	 	/s/Victor
      Karpiak                                         
      
	 	Victor
      Karpiak 
	 	 
	 	/s/Gary F.
      Kohlwes                                     
      
	 	Gary F.
      Kohlwes 
	 	 
	 	/s/Joann E.
      Lee                                            
      
	 	Joann E.
      Lee 
	 	 
	 	/s/Robert W.
      McLendon            
                    
      
	 	Robert W.
      McLendon 
	 	 
	 	
                Comprising
      the Board of Directors of 

                First
      Savings Bank Northwest

                Renton,
      Washington