Release Date: February 1, 2007
For immediate release
The Federal Reserve Board on Thursday announced the issuance of an Order of Prohibition against Perry D. Lane, former president, chief executive officer and director of Exchange Bank of Missouri, Fayette, Missouri.
Mr. Lane, without admitting to any allegations, consented to the issuance of the Order, which was based on his alleged participation in violations of law, unsafe and unsound banking practices, and breaches of fiduciary duty in connection with reports to the bank's management and board of directors of the delinquency status and other information concerning borrower's loans, and other actions related to loan documentation, property appraisals, and loan purpose statements.
A copy of the Order is attached.