The former vice chairman of City Bank in Lubbock has been banned from banking and ordered to pay a hefty fine.
A settlement released Friday shows the FDIC fined Mike Liner $75,000 dollars. Those documents also show Liner is prohibited from participating in any business affairs of any financial institution.
These rulings stem from an ongoing investigation alleging Liner violated bank lending policies and safe and sound banking practices back in 2008.
City Bank officials released a statement Friday saying Liner retired from the bank in June 2011, shortly after bank management discovered the situation.
They also say this situation has no impact on the current financial condition of the bank.
Liner could not be reached for comment.
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