| For immediate release |
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The Federal Reserve Board today announced the issuance of an Order of Prohibition against Jerome C. Bechstein, the former President, Chief Executive Officer, and a Director of the former Towne Bank, Perrysburg, Ohio, and the bank’s former bank holding company, Towne Bancorp, Inc. Mr. Bechstein, without admitting to any allegations, consented to the issuance of the Order due to his alleged participation in violations of law and unsafe or unsound practices regarding the lending function at the Towne Bank. A copy of the Order is attached. |
| Order (222 KB PDF) |