Jul 2, 2021 · GRAND CHAIN — Financial regulators have taken action to effectively bar Frank William “Bill” Bonan II from the banking industry. Regulators have also fined him $105,000 for …

Jun 25, 2021 · In reporting on enforcement actions in May, the Federal Deposit Insurance Corp. (FDIC) said it had issued a notice of intention to prohibit Frank William Bonan II, former board chairman of Grand Rivers Community Bank in Grand Chain, Ill., and ordered him to pay $105,000 the civil money penalty (CMP).

Dec 6, 2022 · Respondent Frank William Bonan II (“Respondent”) on May 7, 2021, filing a Notice of Charges (“Notice”) seeking an order of prohibition and the imposition of a $105,000 -tier civil second money penalty pursuant to 12 U.S.C. §§ 1818(e) and 1818(i) .

In September 2015, Bonan II prepared a written “Plan For the Common Borrower” (“Plan”) that involved the sale of collateral, refinancing, and paying down approximately $5.4 million of the $11.7 million debt of the Common Borrower Relationship.

Frank William Bonan II (“Bonan II”) is an individual resident of Harrisburg, Illinois. Bonan II is the former Chairman of Main Street and Grand Rivers and a current director

Jan 10, 2025 · In a one-page order issued Friday, a three-judge panel granted Bonan’s request, The Seventh Circuit has granted an emergency stay of professional sanctions against Frank William Bonan II, the former chairman of Grand Rivers Community Bank, following his challenge to an FDIC enforcement action.

Plaintiff Frank William Bonan, II (“Bonan”) files this Complaint against the Federal Deposit Insurance Corporation (“FDIC”); Martin J. Gruenberg, in his official capacity as Chairman of the FDIC; Travis Hill, in his official capacity as Vice Chairman of the FDIC; Michael J. Hsu, in

Jun 28, 2021 · The FDIC (Federal Deposit Insurance Corporation) determined in May this year that Frank William Bonan II, as Chairman of the board at Grand Rivers Community Bank, Grand Chain, Ill., recklessly participated or engaged in unsafe or unsound practices in connection to the bank and breached fiduciary duties owed the bank, stating it was part of a ...

Facts and Background 1 On January 3, 2023, Plaintiff Frank William Bonan II brought this action 1 The Court draws the facts in this section from Plaintiff's Complaint, Plaintiff's Memorandum in support of the instant motion, and Defendants’ Response.

Nov 20, 2023 · Respondent Frank William Bonan II ( “Bonan II” or “Respondent”) on May 7, 2021, filing a Notice of Charges (“Notice”) seeking an order of prohibition and the imposition of a $105,000 second-tier civil money penalty pursuant to 12 U.S.C. §§ 1818(e) and 1818(i). The Notice alleges that