For immediate release

The Federal Reserve Board today announced that a public administrative hearing will commence on April 23, 1997, in connection with an enforcement action against Park T. Jones, a former officer of Provident Bancorp of Texas, Inc., the former parent bank holding company of the Provident Bank, Dallas, Texas. The hearing will be held before an administrative law judge to determine whether Mr. Jones should be ordered to pay a civil money penalty. A copy of the Board's Amended Notice of Assessment of Civil Money Penalties is attached. In its notice, the Board alleges that Mr. Jones participated in violations of the Change in Bank Control Act arising from inaccurate filings with the Federal Reserve in connection with the 1991 acquisition of control of Provident Bancorp of Texas by another individual. The administrative hearing will commence at 9:00 a.m. on April 23, at the following location: United States District Court 1100 Commerce Street, Courtroom 13B48 Dallas, Texas

Attachment (1.07 MB PDF)

1997 Enforcement actions