EX-99.1 8 fult12312014ex991.htm EXHIBIT 99.1 FULT 12.31.2014 EX 99.1


Exhibit 99.1
FEDERAL DEPOSIT INSURANCE CORPORATION

WASHINGTON, D.C.

In the Matter of

FULTON BANK OF NEW JERSEY
MT. LAUREL, NEW JERSEY

(INSURED STATE NONMEMBER BANK)
 


STIPULATION AND CONSENT
TO THE ISSUANCE OF
A CONSENT ORDER

FDIC-14-0406b

Subject to the acceptance of this STIPULATION AND CONSENT TO THE ISSUANCE OF A CONSENT ORDER ("CONSENT AGREEMENT") by the Federal Deposit Insurance Corporation ("FDIC"), it is hereby stipulated and agreed by and between a representative of the Legal Division of the FDIC and Fulton Bank of New Jersey, Mt. Laurel, New Jersey ("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/or violations of law or regulation alleged to have been committed by the Bank, and of its right to a 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 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/or violations of law or regulation, hereby consents and agrees to the issuance of a CONSENT ORDER ("ORDER") by the FDIC. The Bank further stipulates and agrees that such ORDER shall be deemed to be a final ORDER and that such ORDER shall become effective upon the issuance by the FDIC and fully enforceable by the FDIC pursuant to the provisions of section 8(i)(1) of the Act, 12 U.S.C. § 1818(i)(1), subject only to the conditions set forth in paragraph 3 of this CONSENT AGREEMENT.





3.    In the event the FDIC accepts this CONSENT AGREEMENT and issues the ORDER, it is agreed that no action to enforce the ORDER in the United States District Court will be taken by the FDIC unless the Bank or any of its directors, officers, employees, agents, successor or assigns, or other institution-affiliated parties (as that 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 to the allegations to be set forth in the NOTICE;
(c)    a hearing for the purpose of taking evidence on such alleged charges;
(d) the filing of PROPOSED FINDINGS OF FACT AND CONCLUSIONS OF LAW;
(e) the issuance of a RECOMMENDED DECISION by an Administrative Law Judge;
(f) Exceptions and briefs with respect to such RECOMMENDED DECISION; and
(g) judicial review of the ORDER as provided by section 8(h) of the Act, 12 U.S.C. §1818(h), or any other challenge to the validity of the ORDER.


Dated: February 25, 2015
 
 
 
 
 
Federal Deposit Insurance Corporation
 
Fulton Bank of New Jersey
Legal Division    
 
Mt. Laurel, New Jersey
By:
 
By:
 
 
 
/s/ Joan Dusard
 
/s/ Christopher S. Bateman
Joan Dusard
 
Christopher S. Bateman
Counsel
 
Director
New York Regional Office
 
 
 
 
 
 
 
/s/ Dennis N. DeSimone
 
 
Dennis N. DeSimone
 
 
Director
 
 
 
 
 
 
 
 
 





 
 
/s/ Lawrence M. Divietro, Jr.    
 
 
Lawrence M. Divietro, Jr.
 
 
Director
 
 
 
 
 
 
 
 
/s/ James R. Johnson, Jr.
 
 
James R. Johnson, Jr.
 
 
Director
 
 
 
 
 
 
 
 
/s/ Warner A. Knobe    
 
 
Warner A. Knobe
 
 
Director
 
 
 
 
 
/s/ Joel A. Kobert
 
 
Joel A. Kobert
 
 
Director
 
 
 
 
 
 
 
 
/s/ Stephen R. Miller
 
 
Stephen R. Miller
 
 
Director
 
 
 
 
 
 
 
 
/s/ Antoinette Pergolin    
 
 
Antoinette Pergolin
 
 
Director
 
 
 
 
 
 
 
 
/s/ Anthony J. Santye, Jr.
 
 
Anthony J. Santye, Jr.
 
 
Director
 
 
 
 
 
 
 
 
/s/ Angela M. Snyder    
 
 
Angela M. Snyder
 
 
Director
 
 
 
 
 
 
 
 
/s/ Paul V. Stahlin
 
 
Paul V. Stahlin
 
 
Director
 
 
 
 
 
 
 
 
 
 
 
 





 
 
/s/ Mark F. Strauss
 
 
Mark F. Strauss
 
 
Director
 
 
 
 
 
 
 
 
/s/ Norman Worth
 
 
Norman Worth
 
 
Director
 
 
 
 
 
 
 
 
Comprising the Board of Directors of
 
 
Fulton Bank of New Jersey
 
 
Mt. Laurel, New Jersey