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The Federal Reserve Board on Thursday announced the issuance of an Order of Assessment of a Civil Money Penalty against the Simmons First Bank of Russellville, Russellville, Arkansas, a state member bank. The Simmons First Bank of Russellville, without admitting to any allegations, consented to the issuance of the Order in connection with its alleged violations of the Board's regulations implementing the National Flood Insurance Act. The Order requires the Simmons First Bank of Russellville to pay a civil money penalty of $1,500, which will be remitted to the Federal Emergency Management Agency for deposit into the National Flood Mitigation Fund. A copy of the Order is attached. |