The former leader of Commercial Bank of Oak Grove is facing a personal fine for improper management of a correspondent account.
According to a listing of enforcement actions released Friday, the Federal Deposit Insurance Corp. fined Jeffrey Fortney, the bank's former president, $15,000 for failing to properly manage, review and reconcile a correspondent account from 2012 to 2017. Commercial Bank of Oak Grove found that the account, which was held at UMB Bank, was out of balance by about $500,000,…
The former leader of Commercial Bank of Oak Grove is facing a personal fine for improper management of a correspondent account.
According to a listing of enforcement actions released Friday, the Federal Deposit Insurance Corp. fined Jeffrey Fortney, the bank's former president, $15,000 for failing to properly manage, review and reconcile a correspondent account from 2012 to 2017. Commercial Bank of Oak Grove found that the account, which was held at UMB Bank, was out of balance by about $500,000,…