TURDAY, MAY 22, 1990 Creager, Robert E., partner, Coopers & Lybrand Hershkowitz, Stephen P., deputy director of Enforcement, Office of Thrift McCormally, Brian C., district counsel. Office of Thrift Supervision. Topeka. Sandefur. Terry, assistant deputy district director, Supervision, Office of Van Cleave, Dorothy, assistant deputy district director, Examinations, Office Weinstein, Harris, chief counsel. Office of Thrift Supervision Wullschleger, Herb, partner, Ernst & Young..... Anonymous letter dated October 25, 1988, to M. Danny Wall and Kermit 531 Background information for Silverado hearings provided by minority staff ....... 187 202 Office of Thrift Supervision: Joint statement of Stephen P. Hershkowitz, Brian C. McCormally, Terry 274 News Releases dated January 10, 11, 19, 23 and 26, 1990.. 192 Silverado Banking, Savings and Loan Association: Examination History from January 1980 to December 1968. 172 Index of Key Supervisory Actions... Holding Company Loan charts. Loan Pool chart. Overview Quid Pro Que Program charts. Supervisory Chronology. Silverado Hypergrowth chart (m) 164 173 168 155 166 175 162 Silverado Banking. Savings and Loan Association-Continued Silverado Self-Funding Capital Transactions Information provided by OTS on Silverado's transactions with Bill L. Walters Memorandum dated January 18. 1990, from OTS enforcement and the Topeka District Office to the ERC regarding recommendation for action in respect of Neil M. Bush 533 Questions for Mr. Paul submitted by Hon. Bunning Memorandum dated February 17, 1988, from Jack Grace and Dennis Lacey, Coopers & Lybrand, to office files, regarding a meeting with Silverado management........ 532 540 535 542 Supplemental submission, charts prepared by Office of Thrift Supervision. 525 WITNESSES WEDNESDAY, MAY 23, 1990 Bunchman, Richard J., former director, Silverado Banking. Bush, Neil M., former director. Silverado Banking... Prepared statements: Annunzio, Hon. Frank... APPENDIX ADDITIONAL Material SUBMITTED FOR THE RECORD Correspondence with witnesses 202 Excerpt from GAO Report on Thrift Failures; Officers and Directors Breached 622 Internal memorandum dated February 23, 1987, regarding significant loans declined by Silverado banking, submitted by Hon. Parris. 569 Letter dated November 5, 1986, from Neil M. Bush to Michael Wise regarding a $900,000 line of credit for Good International 629 Office of Thrift Supervision Manual: Director Information Guidelines. 571 Subpoena resolution .... 5.50 Wise, Michael, memorandum and letter dated July 15, 1985 regarding Neil M. 567 WASHINGTON, D.C., Jan. 10 -- Two former officers and directors (! Silverado Banking, Savings and Loan Association, Denver, Colo., have agreed to OTS consent orders, without admitting any wrongdoing, that prohibit them from working for federally insured financial institutions without prior approval of the appropriate requlatory agency. The office of Thrift Supervision reached the settlement vita Richard K. Vandapoel, former board vice chairman and chief operatim officer of silverado, and Robert K. Lavis, former board vice chairma and chief financial officer. The thrift was placed inte receivershiĮ in December 1988. While an OTS investigation was still under vey, Lewis and Vandapool consented to the issuance of the order without admitting any wrongdoing. Federal examiners had expressed grave concerns over the soundnews of Silverado's management in the months before its closing, OTS 1414 OFFICE OF THRIFT SUPERVISION CRIMINAL REFERRAL FORM SECTION A 0000060 TO BE COMPLETED FOR ALL CRIMINAL REFERRALS 1. Name, Location and Docket Number of Financial Institution 2. 3. Docket Number: 02745 If activity occurred at branch office(s), identify: Asset Size of Financial Institution: $8,961,146,000 (as reported on the September 30, 1989 Thrift Financial Report). Approximate date and dollar amount (prior to any allowances for restitution or recovery) of suspected violation Date: July 27, 1988 Amount: $25,000,000 (Month) (Day) (Year) 4. Summary characterization of the suspected violation. Mark appropriate box(es) with an X. [ ] Defalcation/Embezzlement [ ] Bribery/Gratuity (X) False Statement [ ] Check Kiting [ ] Bank Fraud [ ] Misuse of Position [ ] Unexplained Loss Bank Secrecy Act/ or Self Dealing [X] Other(Describe) [ ] Credit Card Fraud S. Has there been any admission or a confession? 6. [ ] Yes [X] No If so, by whom? None Explanation/Description of Suspected Violation (Give a brief summary of the suspected violation, explaining what is unusual or irregular about the transaction.) 7. David L. Paul, Chairman and Chief Executive Officer of CenTrust Bank, a The securities "parking" noted above may constitute a violation of Title 15 U.S.C. sec. 7801 791 770 and 77 Criminal violations of Title 18 U.S.C. sec. 1006 False entries and reports or statements, including material omissions, made with intent to injure or defraud insured institution or deceive an Office of Thrift Supervision examineri receipt of any benefits by an officer, agent or employee of the institution from a transaction of the institution with intent to defraud by the individual. d. Relationship to the financial institution. Mark all applicable box(es): |