February 23, 2007

Order of prohibition against Seresa Morgan

For immediate release

The Federal Reserve Board on Friday announced the issuance of a consent Order of Prohibition against Seresa Morgan (“Morgan”), a former employee of Civitas BankGroup, Inc. (“Civitas”), Franklin, Tennessee, a registered bank holding company. 

On January 5, 2007, the Board issued a Notice of Intent to Prohibit against

Morgan, alleging that she participated in violations of law, unsafe and unsound banking practices, and breaches of fiduciary duty related to the embezzlement of over $197,000 from Civitas.  The Order of Prohibition against Morgan resolves the proceeding initiated by issuance of the Notice.  Morgan, without admitting to any allegations, has consented to the issuance of the Order. 

A copy of the Order is attached.

Last Update: February 23, 2007