| For immediate release |
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The Federal Reserve Board today announced the issuance of a combined Order to Cease and Desist, Order of Restitution, and Order of Assessment of a Civil Money Penalty against
John Gillogly, a former officer and institution-affiliated party of The Bank of Corning, Corning, Ohio.
Mr. Gillogly, without admitting to any allegations, consented to the issuance of the order due to his alleged participation in unsafe and unsound practices, breaches of fiduciary duty, and violations of the Board of Governors' Regulation O relating to the management and disposition of a parcel of property previously owned by the bank. Mr. Gillogly paid a fine of $2,000 in addition to his restitution to the bank in the amount of $4,965. A copy of the order is attached. |
| Order (271 KB PDF) |