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Former bank officer fined

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The former executive vice president of a Park Rapids bank has been ordered by the FDIC to pay a civil penalty of $10,000 for alleged breach of his fiduciary duty.


Jon P. Smythe left his position at State Bank of Park Rapids in November 2010.

The Federal Deposit Insurance Corporation, which regulates banks, sent down two orders in the case, one in December and one May 26 that was released Friday.

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Sarah Smith
Sarah Smith is the outdoors editor. She covers courts, business and breaking news in addition to outdoors events.
(218) 732-3364