The Federal Reserve Board on Tuesday announced the issuance of a consent Notice of Prohibition against Kenneth M. Matzdorff, the majority shareholder and a former officer and director of Garden City Bancshares, Inc., Garden City, Missouri, a registered bank holding company that owns or controls the Garden City Bank, Garden City, Missouri, a state nonmember bank.
A Notice of Prohibition is issued under a provision of the Federal Deposit Insurance Act that authorizes the Federal Reserve and other bank regulators to limit the activities of bank officials who have been charged with criminal offenses pending the resolution of the charges.
The Board's action against Mr. Matzdorff has been coordinated with the U.S. Attorney's Office for the Eastern District of New York.
A copy of the Notice of Prohibition is attached.
Attachment (717 KB PDF)