STATE OF FLORIDA
DIVISION OF ADMINISTRATIVE HEARINGS
IN RE: FANA HOLTZ, DANIEL M. HOLTZ CASE NO. 95-5685 and JAVIER J. HOLTZ
/
REDACTED REPORT OF HEARING
Pursuant to notice, the Division of Administrative Hearings, by its duly designated Administrative Law Judge, Susan B. Kirkland, held a formal hearing in this case from August 26, 1996 through November 8, 1996, in Miami, Florida.
APPEARANCES
For Applicants: D. Jean Veta, Esquire
Eric G. Lasker, Esquire Peter L. Flanagan, Esquire Covington and Burling
1201 Pennsylvania Avenue, Northwest Post Office Box 7566
Washington, D.C. 20044
Mark A. Dresnick, Esquire Mark A. Dresnick, P.A.
2665 South Bayshore Drive Grand Bay Plaza, Suite 201 Miami, Florida 33133
For Petitioners: Eugene E. Stearns, Esquire
Betty Chang Rowe, Esquire Jennifer D. Stearns, Esquire
Stearns, Weaver, Miller, Weissler, Alhadeff and Sitterson, P.A.
150 West Flagler Street Suite 2200 (Museum Tower) Miami, Florida 33130
For Department John B. Fretwell, Esquire of Banking: Michael C. Gold, Esquire
Comptroller’s Legal Office
101 E. Gaines Street
Suite 526, The Fletcher Building Tallahassee, Florida 32399-0350
For Intervenor: Alex Halberstein, Pro Se
20185 Country Club Drive Apartment 2501
Adventura, Florida 33180 STATEMENT OF THE ISSUES
Whether the applications of Fana Holtz, Daniel Holtz, and Javier Holtz to acquire and/or maintain control of Capital Bank, Miami, Florida should be approved.
PRELIMINARY STATEMENT
On October 13, 1995, Daniel M. Holtz, Javier J. Holtz, and Fana Holtz, filed applications with the Department of Banking and Finance (Department) to acquire and/or maintain control of Capital Bank, Miami, Florida, through its holding company, Capital Bankcorp. On November 9, 1995, the Department received a Petition for a formal administrative hearing from four shareholders of Capital Bank: Nathan Esfromes, Simon Portnoy, Leonard Wien, and Stanley Worton. On November 17, 1995, the Department referred the matter to the Division of Administrative Hearings for assignment to an Administrative Law Judge.
At the final hearing, Alex Halberstein requested that he be allowed to intervene and appear in his own behalf. Mr. Halberstein was allowed to intervene on the condition that he would not be allowed to call witnesses other than himself and that he would not be allowed to enter exhibits in evidence.
The hearing in this matter lasted for nine weeks, during which time the Applicants presented testimony from 28 fact witnesses
(24 live and 4 by deposition) and four expert witnesses. Petitioners presented testimony from 12 fact witnesses and three expert witnesses. Applicants and Petitioners submitted 370 exhibits in evidence. The Department presented no witnesses and no exhibits.
FINDINGS OF FACTS
Applicants, Daniel Holtz, Javier Holtz, and Fana Holtz have applied to the Department of Banking and Finance (Department) for approval pursuant to Section 658.28, Florida Statutes, to acquire and/or maintain a controlling interest in Capital Bank, through their share ownership in Capital Bank’s holding company, Capital Bancorp (Bancorp).
Section 658.28(1) Florida Statutes, provides:
. . . The department shall issue a certificate of approval only after it has made an investigation and determined that the proposed new owner or owners of the interest are qualified by reputation, character, experience, and financial responsibility to control and operate the bank . . . in a legal and proper manner and the interests of the other stockholders, if any, and the depositors and creditors of the bank . . and the interests of the public generally will not be jeopardized by the proposed change in ownership, controlling interest, or management.
Capital Bank is a $1.6 billion financial institution headquartered in Miami, Florida. It is the largest independent bank in South Florida and the largest minority-owned bank in the United States. Capital Bank was formed under the laws of the
State of Florida in 1976 from the merger of three banks. Its holding company, Bancorp, was formed in 1981.
From the outset, Abel Holtz served as the President, Chief Executive Officer and Chairman of both Capital Bank and Bancorp, until his resignations in 1991 and 1994. In 1981, he personally held voting power over sixty percent of Bancorp’s outstanding common stock. A substantial portion of Abel Holtz’s voting power stemmed from shares he voted pursuant to shareholder agreements and proxies but did not own. From 1981 until 1994, the percentage of Bancorp shares controlled by Abel Holtz fluctuated, but at no time prior to the end of 1993 did he ever control less than 40.48 percent of Bancorp’s common stock.
Capital Factors (Factors) is a subsidiary of Capital Bank. Its principal business is the purchasing or financing of receivables generated by manufacturing companies, and to a lesser extent, receivables generated by health care providers and employment service agencies. John Kiefer is the president and chief executive officer of Factors. By fiscal year ended December 31, 1995, Factors generated over fifty percent of the income of Bancorp, using less than twenty-five percent of Bancorp’s assets.
Applicant, Fana Holtz, 62, is the wife of Abel Holtz of forty years. She is and has been a director and Vice Chairman of Bancorp since its inception.
Following her graduation from the University of Havana with a Doctor of Pharmacology degree, Fana Holtz owned and operated her own pharmacy in Cuba from 1957 until 1961, when she orchestrated her husband’s release from prison and her family’s escape to the United States. Since arriving in the United States Fana Holtz has successfully managed a number of different real estate and retail ventures.
Fana Holtz became involved in the real estate business in the mid-1960’s, when she and Abel Holtz purchased a 24-unit apartment building which they called Fanita Apartments. Fana Holtz was in charge of all aspects of the building management, from collecting the rent to preparing the books to remodeling the apartments.
Fana Holtz became involved in the management of additional apartment buildings, some of which she purchased with Abel Holtz and others of which she purchased with other individuals. Fana Holtz assumed principal responsibility for managing each of these different apartment buildings.
In the early 1980’s, Fana Holtz invested in a retail furniture business, Casa Bella of New York. She was a partner in the business venture with Barbara Castillo. Fana Holtz assumed principal responsibility over the business side of the partnership, including bookkeeping, budgeting and personnel functions. Over the six years of its existence prior to the
termination of its lease, Casa Bella of New York grew to [text omitted] and enjoyed steadily increasing profits.
Fana Holtz has also been a leader in the Miami community. She has played a central role in the leadership and fundraising efforts of a large number of charitable organizations, including the National Parkinson Foundation, the National Foundation of Ileitis and Colitis, the Juvenile Diabetes Research Foundation, the American Suicide Foundation, Project Newborn, and the Wien Alzheimer Center at Mount Sinai Medical Center.
The Director of the National Parkinson Foundation, Emilio Alonso Mendoza, described Fana Holtz as one of the Foundation’s chief assets and explained that her active involvement on behalf of the National Parkinson Foundation is crucial to the Foundation’s success. Mr. Mendoza estimated that Fana Holtz has raised at least $2 million for the National Parkinson Foundation.
The South Florida Region of the Weizmann Institute of Science, a research institute based in Israel, has named Fana Holtz as a distinguished woman in philanthropy.
Fana Holtz’s personal financial affairs are inextricably intertwined and are commingled with Abel Holtz’s. She has little or no substantive knowledge of her personal finances or the state of her personal finances. She has little
involvement in managing her personal financial affairs, relying on Abel Holtz.
Fana Holtz [text omitted]. A secretary shared with Abel Holtz prepares and signs checks [text omitted] to pay Fana Holtz's personal bills.
Fana Holtz presently asserts voting control over 39.7% of the outstanding common stock of Bancorp. She obtained control of most of those shares in 1994 through a series of gifts and conveyances from her husband.
Abel Holtz helped to prepare Fana Holtz’s application to acquire or maintain a controlling interest in Capital Bank, which application is the subject of this proceeding.
Applicant Daniel M. Holtz, 37, is the elder son of Abel and Fana Holtz. He is the Chief Executive Officer and Chairman of Capital Bank and Bancorp, positions he assumed in October 1994 upon his father’s resignation. Daniel Holtz has been the President of Capital Bank since 1991 and the president of Bancorp since October 1994. He is a director of Capital Bank (1982 to 1988 and 1991 to the present) and a director of Bancorp from 1988 to the present.
Capital Bank of California (CBCA) was a federally insured commercial bank located in Los Angeles, California. CBCA was formed by three failed or failing banks. Daniel Holtz was
Executive Vice President of Capital Bank of California from 1985 to 1987 and President and Chief Executive Officer from 1987 to November 1991.
Unsatisfactory conditions found at CBCA as of December 31, 1989, led to the entry of a Memorandum of Understanding (MOU) by CBCA, the FDIC, and the Superintendent of Banks for the State of California on January 24, 1991. The MOU was followed by an Order of Cease and Desist entered against CBCA on March 31, 1992. CBCA was closed by the California Superintendent of Banking and taken over by the FDIC on June 18, 1993.
In 1986 Daniel Holtz became President of Capital Trading, Group, Inc. (Trading), a subsidiary of Bancorp. Trading was established to “act as a catalyst between buyer and seller in making trade arrangements.” In other words, Trading was to be the middleman between buyers and sellers and not to buy and retain merchandise in hopes of finding a buyer for the goods.
During Daniel Holtz’s administration of Trading and contrary to its business purpose, Trading acquired and stored a significant inventory of merchandise resulting in substantial losses. [text omitted]. Trading was liquidated during 1990 and 1991.
In 1988, with the support of Fana and Javier Holtz, Daniel Holtz convinced then-President Abel Holtz to agree to a reorganization of Capital Bank along four primary business lines
-- retail banking, international banking, commercial credit, and
finance -– with executive vice presidents to assume specific responsibility and accountability for the various parts of Capital Bank’s business.
Following the reorganization, Daniel Holtz became Executive Vice President in charge of the Retail Division. In this position, again with the support of Fana and Javier Holtz, Daniel Holtz implemented a number of initiatives including a mystery shopper program, employee training, and a formalized salary administration process. These initiatives in the retail area resulted in improved customer service, improved productivity, increased consumer lending, and substantial cost savings.
Daniel Holtz became President of Capital Bank in late 1991. Upon assuming the presidency, he began to imprint his own management style on Capital Bank and brought in a new management team. Over the following three years, he appointed new Executive Vice Presidents to head up each of the Bank’s six divisions: Administration (Charles Boyce), Credit (Javier Holtz), Finance (Tim Harris), International (David Konfino), Legal (Tim Kish) and Retail (Tom Flood). Daniel Holtz established strong working relationships with his executive officers and cultivated a strong team spirit throughout Capital Bank.
As President, Daniel Holtz focused his efforts on establishing and achieving the overall business goals for Capital Bank. Under the prior regime, Capital Bank had little in the way
of long term planning, and Capital Bank’s earning and operational performance had been unpredictable. To reverse this trend, Daniel Holtz initiated strategic reviews of the Bank’s activities, developed a five-year rolling budget process, and initiated responsibility center reporting down to the individual branch level, thus providing each area of Capital Bank with objective criteria by which to judge its performance as compared to budget and to the prior year’s results.
Daniel Holtz also took a number of steps to reduce Capital Bank’s risk profile. Under the prior regime, Capital Bank had focused on higher risk business strategies, including highly leveraged commercial and real estate lending international transactions avoided by other banks. Daniel Holtz redirected Capital Bank’s business towards smaller retail transactions with more established, top-tier correspondent banks and a more diversified loan portfolio with a greater emphasis on consumer lending and factoring transactions. To implement this change in direction, Daniel instituted a series of employee training and incentive programs designed to improve employee performance and customer service. He also expanded the formal employee review process that he had previously introduced in the retail division, thus enabling employees company-wide to have a clearer understanding of their job responsibilities and to be rewarded based upon objective criteria.
Daniel Holtz also spearheaded a number of capital strategies that improved Capital Bank’s liquidity and capital ratios, while at the same time reducing the Bank’s credit exposure in its factoring subsidiary. These measures included the securitizations of Factors’ receivables, an initial public offering of nineteen percent of the shares of Factors, and the listing of Bancorp on NASDAQ.
At Daniel Holtz’s direction, Capital Bank hired an outside consultant to review the bank’s internal controls and develop specific recommendations to improve Capital Bank’s regulatory compliance; introduced compliance training throughout the organization; instituted new procedures and controls to ensure compliance with Regulation O restriction on loans to insiders; established a full-time compliance officer position to monitor Capital Bank’s regulatory performance; charged the bank’s general counsel with ensuring that no proposal be brought before the Board of Directors that would violate applicable laws or regulations; and increased the frequency of the bank’s contacts with its primary regulators to improve relations and facilitate early identification and correction of any future compliance issues.
Daniel Holtz also strengthened the role of the Board of Directors by creating and enhancing the role of a directors’ planning committee, compensation and benefits committee, conflicts of interest committee, and directors’ nominating
committee; and by significantly expanding the information provided to directors in Board of Directors’ reports and distributing such reports in advance of board meetings.
In 1995, Daniel Holtz, with the help of an outside consultant, initiated the Capital 2000 project which is expected to streamline Capital Bank’s operations in light of its new retail banking focus, redirect Capital Bank’s resources to their most effective use, and significantly lower the bank’s operating expenses while simultaneously enhancing key revenue sources.
[text omitted].
Daniel Holtz owns approximately 4 percent of the total outstanding common stock of Bancorp. To acquire a 25 percent controlling interest in Bancorp, Daniel Holtz would have to acquire an additional 1,559,000 shares, which would cost approximately $41 million. Daniel Holtz does not have the financial wherewithal to a acquire a controlling interest in Bancorp. [text omitted]. Daniel Holtz has presented no plan by which he intends to acquire a 25 percent controlling interest in Bancorp.
[text omitted].
Daniel Holtz is active in a variety of charitable organizations, including Habitat for Humanity, the Alelph Institute (a non-profit religious organization that works with Jews in the military and in penal institutions), and the United Foundation for AIDS.
Applicant Javier J. Holtz, 35, is the son of Abel and Fana Holtz. He is currently the Executive Vice President and Chief Credit Officer of Capital Bank and a Senior Vice President of Bancorp. Javier Holtz has been a director of Capital Bank since 1982 and is Chairman of the Board of Factors.
Javier Holtz currently owns approximately 2.2 percent of the outstanding shares of Bancorp stock. He does not have the financial means by which he could acquire a controlling interest in Bancorp. [text omitted]. Javier has presented no plan by which he intends to acquire a 25 percent interest in Bancorp.
From 1988 to March 1992, Javier Holtz served as a senior vice president in Capital Bank’s Retail Division. In March, 1992, he became Assistant Division Head of the Credit Division, with the principal responsibility for addressing Capital Bank’s asset quality problems. [text omitted].
As Assistant Division Head, Javier Holtz implemented a series of new policies and procedures which have succeeded in improving Capital Bank’s asset quality, including new underwriting policies, a revised risk rating system, a perpetual review system for Bank loans, a loan review committee made up of executive vice presidents of Capital Bank, and an increased role for the special assets department.
In March 1994, Javier Holtz became acting Division Head of Credit upon the resignation of Simon Portnoy. Javier Holtz was promoted to Executive Vice President and Chief Credit Officer
of Capital Bank in September 1994. Since then, Javier Holtz has focused his energies as Chief Credit Officer on building Capital Bank’s loan portfolio through targeted business development efforts and a reengineering of the commercial lending function.
Javier Holtz has been involved in the credit function for Factors since the mid-1980’s and was promoted to the level of Executive Vice President in charge of credit in November, 1994. He has final authority over all credit matters and provides essential independent oversight to Factors’ credit analysis.
Javier Holt has served as a director of Factors since 1987, as Vice Chairman of the Board from January 1991 to November 1994, and as Chairman of Factors' Board of Directors since November 1994. In the latter capacity, he serves as a liaison between Factors and Capital Bank and is involved on an almost daily basis in strategic decision making, staffing decisions, and consideration of new business lines and opportunities. He has been involved in Factors’ recent efforts to diversify its business both geographically and through new lines of business, such as asset-based lending, health care receivables, and temporary employment receivables.
Javier Holtz played a key role, both as Board Chairman and as Chief Credit Officer, in the planning and due diligence process for Capital Factors’ recent financing efforts – its $175 million in securitizations in 1994-95, the receipt of a new line
of credit from Fleet Capital in 1996, and the recent initial public offering in July 1996.
Javier Holtz is active in a number of charitable activities, including the National Parkinson’s Foundation, Temple Emanuel of Greater Miami, and the Lehrman Day School.
Applicants acted in concert with Abel Holtz as shareholders in connection with a shareholder action by written consent in 1992, in which four directors were not re-elected to the Capital Bank Board of Directors. The shareholder action was taken in the midst of an investigation that two of these four directors, Stanley Worton and Alex Halberstein, had initiated against Abel Holtz.
The origin of the 1992 dispute was the settlement of two sexual harassment complaints filed with the Equal Employment Opportunity Commission against Capital Bank and Abel Holtz. One of the complaints had been filed by the general counsel of Capital Bank. The settlements were authorized by Abel Holtz on the advice of outside counsel, Elizabeth DuFresne, a partner at Steel, Hector and Davis. Ms. DuFresne advised Abel Holtz to have the Bank prepare the settlement check to show that the amount of the check was for attorney’s fees, costs, and settlement of labor related claims and training of Capital Bank personnel. The purpose of preparing the check in this manner was to avoid other complaints of a similar nature. [text omitted].
Ms. DuFresne also advised Abel Holtz that the settlement was confidential and that he should not discuss the terms of the settlement with anyone, including bank directors, until she had had an opportunity to make a presentation to the Board of Directors. On the day that Abel Holtz signed the settlement agreements, he left for Spain.
Abel Holtz requested that Ms. DuFresne make a presentation to the Capital Bank Board of Directors in August, 1992. The regularly scheduled board meeting was to be held on August 27, 1992. Ms. DuFresne was to be in Ireland at that time and advised that she would participate by telephone. On August 24, 1992, Hurricane Andrew hit Miami, resulting in the cancellation of the August 27 board meeting.
[text omitted].
But for the cancellation of the August 27 board meeting, the Board of Directors would have been advised of the settlement of the sexual harassment claims at that meeting. There was no attempt by Fana, Daniel, or Javier Holtz to prevent the board members from learning of the settlement of the sexual harassment claims.
Prior to the settlement of the sexual harassment claims, Abel Holtz had been keeping Alex Halberstein informed on a daily basis as to the progress of the settlement discussions. Following the settlement, Abel Holtz did not advise Mr. Halberstein of the terms of the settlement agreement, thinking
that he was following advise of counsel not to disclose the terms to the directors until she could make a presentation to the board. Mr. Halberstein viewed Abel Holtz’s position as a personal affront and began investigating the matter on his own.
Mr. Halberstein discovered the settlement check and certain other bank checks which he believed related to Abel Holtz’s travel and entertainment expenses and Capital Bank’s charitable donations. In early September 1992, Mr. Halberstein confronted Abel Holtz with the checks, and Abel Holtz denied any wrongdoing.
Mr. Halberstein then contacted Dr. Worton, who was a member of Capital Bank’s Audit Committee. Shortly thereafter, the Audit Committee began investigating Abel Holtz for misappropriating Capital Bank funds through the sexual harassment settlement and various travel and expense expenditures and charitable donations. The Audit Committee was comprised of three outside directors, Chairman Alan Weiselberg, Dr. John Brown and Dr. Stanley Worton.
The Audit Committee advised Abel Holtz that it would be investigating these allegations. Abel Holtz agreed to cooperate with the investigation, as did Daniel Holtz who was, at this point, President of Capital Bank.
The Audit Committee retained the law firm of Bailey Hunt Jopes and Busto as outside counsel and enlisted the
assistance of the bank's internal auditor in the investigation. [text omitted].
[text omitted].
[text omitted].
A majority of the Board of Directors of Capital Bank and Bancorp (excluding Holtz members) concurred with and supported the Audit Committee's actions.
On October 16, 1992, a notice of special meeting of Capital Bank's board was issued. The bylaws of Capital Bank required that either the cashier or the president of Capital Bank sign the notice; however, neither the president nor the cashier could be located on October 16, so Alex Halberstein as Executive Vice President signed the notice. The purpose of the special meeting was to consider the interim report of the Audit Committee and to take appropriate action with respect to the report including removal of certain officers of the Board and/or Capital Bank. The special meeting was scheduled for October 19, 1992, at 4:00 p.m. at Capital Bank's boardroom.
Abel, Daniel, Javier and Fana Holtz were aware of the directors' and Audit Committee's investigation and activities. They characterized the investigation of the sexual harassment settlement, travel expenses, and charitable contributions as a "witch hunt."
Abel, Fana, Daniel, and Javier Holtz decided to increase control of Bancorp so that they could remove directors
and restructure the boards of Bancorp and Capital Bank without a regular shareholders meeting. Daniel and Abel Holtz consulted the law firm of Greenberg Traurig Hoffman Lipoff Rosen and Quentel (Greenberg Traurig) regarding these matters.
To facilitate their objectives, Abel, Fana, Daniel and Javier Holtz acquired additional shares of Bancorp between October 14 and October 19, 1992. [text omitted]. Abel, Fana, Daniel, and Javier Holtz also began soliciting proxies from other shareholders.
[text omitted]. He also knew that Florida law prohibited such actions but took no action to prevent it.
On October 19, 1992, prior to the scheduled special meeting of Capital Bank's board, Abel, Fana, Daniel and Javier Holtz and other Bancorp shareholders (whose combined shares amounted to 70% of the total outstanding shares) took corporate action by written consent in lieu of a shareholders meeting. The following actions were taken: increased the number of directors to ten; elected Fred Hirt, Timothy Kish and Alan Weiselberg to the Bancorp board; and authorized the president of Bancorp (Abel Holtz) to vote all shares that Bancorp owned in any subsidiary (Capital Bank).
As a result of these actions, Abel Holtz reduced the number of directors on the Capital Bank board from ten to six. The directors eliminated were Raymond Clark, Alex Halberstein, Edwin Rosenthal, and Stanley Worton. Ironically, Abel Holtz
voted proxies given to him by Alex Halberstein and Stanley Worton, to oust them from the Capital Bank board.
The actions taken by the applicants in the October 19 meeting were to protect the interests of Abel Holtz and the Holtz family and to eliminate individuals from the Capital Bank Board who were questioning Abel Holtz’ actions. Rather than wait for the Audit Committee to complete its investigation, the Holtz family took matters into their own hands.
On October 19, 1992, at 4:00 p.m. the following directors of Capital Bank arrived at the Brickell Avenue offices of Capital Bank to hold the noticed special meeting: Alex Halberstein, Simon Portnoy, Edwin Rosenthal, Stanley Worton, John Brown, and Alan Weiselberg. The directors were not allowed to get to the 12th floor by normal means of access and had to get to the 12th floor boardroom by taking the fire escape from the 11th floor. When they got to the 12th floor they were asked by Capital Bank security personnel and a city policeman to leave the building. The directors were given letters in which they were advised that it was the legal opinion of counsel for Capital Bank that the special meeting was improperly called and that four of the directors had been removed from the board.
The directors left the bank building and reconvened the special meeting at another location. The directors voted to ratify the actions of the Audit Committee, remove Abel Holtz as chief executive officer of Capital Bank and as Chairman of the
Board of Capital Bank, and to initiate legal action against Abel Holtz for reimbursement of the money paid to settle the sexual harassment claims.
Capital Bank did not recognize the actions taken at the special meeting. [text omitted]. Additionally, three of the directors who had participated in the special meeting had been removed from the board by Abel Holtz shortly before the special meeting convened.
[text omitted].
On October 30, 1992, Capital engaged the accounting firm of Arthur Andersen and Company (Arthur Andersen) to perform certain agreed upon procedures relating to the settlement of the sexual harassment claims, the travel and entertainment expenses of Abel Holtz, and charitable contributions made by Capital Bank. The agreement with Arthur Andersen was negotiated by the Greenberg Traurig firm on behalf of Capital Bank.
Arthur Andersen issued a report on December 8, 1992. The accounting firm found Abel Holtz's settlement of the sexual harassment claims posed a conflict of interest, inadequate documentation for numerous travel and entertainment expenditures violated bank policy, and instances of expenditures by Abel and/or Fana Holtz for charitable contributions and travel and entertainment that appeared to be personal in nature. [text omitted]. Arthur Andersen recommended that Capital Bank's Board of Directors review the sexual harassment settlement, certain
travel and entertainment expenses, and certain pledges to determine whether reimbursement by Abel Holtz was needed.
John Kiefer was selected to replace Stanley Worton on the Audit Committee. Prior to his appointment to the Audit Committee, John Kiefer and the internal auditor who was working with the Audit Committee had a "run-in,” resulting in an acrimonious relationship between the two. John Kiefer was loyal to the Holtz family. As President of Factors, John Kiefer was not considered an independent director. His appointment to the Audit Committee violated the Audit Committee charter, which required three independent directors.
The Audit Committee, now composed of Weiselberg, Kiefer and Brown, recommended that the Board of Directors of Capital Bank adopt resolutions which ratified the settlement of the sexual harassment claims, determined that there was no basis for requiring Abel Holtz to reimburse Capital Bank for the settlement and that the travel and entertainment expenses and charitable contributions specified in the Arthur Andersen report were ordinary and necessary business expenses of Capital Bank. Daniel and Javier Holtz voted at the board meeting in favor of these actions
[text omitted].
In April 1994, [text omitted]. This transaction effectively shifted control of Capital Bank from Abel Holtz to Fana Holtz.
A federal grand jury investigation was commenced concerning the activities of Abel Holtz in connection with Capital Bank. The grand jury investigation led to a negotiated plea by Abel Holtz on October 25, 1994, in which the potential criminal actions against Abel Holtz were not pursued in exchange for Abel Holtz's agreement to plead guilty to the charge that he knowingly and willfully endeavored to influence and impede the due administration of justice by giving misleading testimony to a federal grand jury about his relationship with Alex Daoud and about the nature of the services he was asked to perform, in violation of 18 U.S.C., Section 1503.
The legal effect of the guilty plea is to bar Abel Holtz from directly or indirectly, owning, controlling or otherwise participating in the affairs of Bancorp and Capital Bank.
On October 7, 1994, Abel Holtz resigned from all positions with Bancorp, Capital Bank and Capital Factors. In connection with his resignation, [text omitted].
[text omitted].
On February 8, 1995, Abel Holtz and his family’s control and operation of Bancorp and Bank were challenged in a shareholder’s derivative lawsuit filed against the Holtz family by Nathan Esformes, Stanley Worton, and Leonard Wein. Shortly after the filing of the lawsuit, Fana, Daniel, and Javier Holtz privately decided to and did solicit proxies so that they could
restructure the board of directors of Bancorp without a regular shareholders meeting.
On February 27, 1995, Fana, Daniel, and Javier Holtz and Leon Simkins carried out a corporate action in lieu of an annual shareholders meeting. At this meeting they removed Nathan Esformes and Alex Halberstein from the board of directors of Bancorp. Fana Holtz voted Stanley Worton’s and Alex Halberstein’s shares to eliminate Messers. Esfromes and Halberstein from the board. Again the applicants were protecting their own interests by eliminating individuals who were critical of the Holtz family from the Bancorp Board.
[text omitted].
Abel Holtz knew about and participated in the corporate action and proxy solicitation in February 1995.
Abel Holtz reported to prison on February 28, 1995, to begin serving his sentence.
On February 28, 1995, the Board of Directors of Bancorp appointed an independent committee to investigate the claims made in the shareholders derivative action. The Independent Committee members were Russell Galbut, Leon Simpkins, Jeffrey Porter, and Craig Platt. Messrs. Porter and Platt were long standing friends of Daniel Holtz. At the time Leon Simpkins was appointed to the Independent Committee, [text omitted].
In March 1995, the Independent Committee hired the law firm of Zack Sparber Kosnitzky Spratt and Brooks to assist in the
investigation. Counsel for the Independent Committee removed Jeffrey Porter and Craig Platt from the committee in order to avoid the appearance of conflict.
[text omitted]. Mr. Simkins resigned from the Independent Committee shortly thereafter.
The Independent Committee retained the accounting firm of Coopers and Lybrand to assist in the investigation of the allegations of the shareholders’ derivative suit.
On May 29, 1995, the independent committee issued its report, which recommended that that the shareholders’ derivative action be dismissed.
In May, 1992, Regulation O was extended to cover state banks, like Capital Bank, that are not members of the Federal Reserve. Accordingly, executive officers of these banks were no longer allowed to borrow in excess of $100,000 from their banks, subject to certain exceptions. [text omitted].
[text omitted].
[text omitted].
[text omitted].
The Internal Revenue Service has determined that Fana and Abel Holtz failed to report income totaling $1,417,128 from Bancorp for the taxable years 1989 and 1990.
[text omitted].
In the early 1990’s Capital Bank was a troubled financial institution in terms of both regulatory compliance and financial performance.
[text omitted]
[text omitted].
[text omitted].
[text omitted].
[text omitted]
[text omitted].
[text omitted].
[text omitted].
[text omitted].
[text omitted].
[text omitted].
[text omitted].
Since the 1992 Exam, Daniel Holtz has replaced Abel Holtz’s centralized management structure with a new team of executive officers who are responsible for specific business areas. [text omitted].
During the 1980’s Capital Bank experienced erratic earnings. Since Daniel Holtz became President, Capital Bank has experience steady and significant earnings growth. [text omitted].
Capital Bank has taken a number of significant and innovative steps to improve its liquidity position in recent
years. Capital Bank has successfully pursued outside funding vehicles for its subsidiary, Factors, through three securitizations of Factors’ advances against receivables, a $40 million credit facility with Fleet Capital, and an initial public offering of nineteen percent of Factors’ stock. These financing measures have allowed Capital Bank to decrease significantly the amount of its lending to Factors, thereby increasing Capital Bank’s liquidity.
113. | [text | omitted]. |
114. | [text | omitted]. |
115. | [text | omitted]. |
Although Daniel Holtz became President of Capital Bank in 1991, Abel Holtz retained his positions of Chairman of the Board and Chief Executive Officer of Capital Bank and Bancorp and President of Bancorp until 1994. The evidence is clear that Abel Holtz was in control of Bancorp and Capital Bank until his resignations in 1994. He made the final decisions concerning the institutions and tolerated little or no criticism of himself by directors. He essentially “ran the show.”
As a result of his conviction, Abel Holtz was prohibited from directly or indirectly participating in the affairs of Capital Bank and Bancorp. However, based on the testimony at the hearing, it is evident that Abel Holtz has been unable to distance himself from the affairs of Bancorp and Capital Bank. Abel Holtz’s continued involvement in Bancorp is
exhibited by his participation in filling out Fana Holtz’s application for control which is at issue in this proceeding. Although both Fana Holtz and Abel Holtz denied that he assisted in the preparation of the application, the testimony of Omara Gonzalez is to the contrary. There would be no reason for Ms. Gonzalez to testify falsely about Abel Holtz’s involvement. By allowing Abel Holtz to assist in the preparation of the application, Fana Holtz exhibited a disregard for the prohibition of Abel Holtz’s participation in the affairs of Capital Bank and demonstrated that she continues to be dependent on Abel Holtz in the affairs of Capital Bank. As recently as the time of the hearing in this proceeding, Fana Holtz has discussed with Abel Holtz the potential sale of his shares of Bancorp.
Abel Holtz continues to manage all of Fana Holtz’s financial affairs. He controls the joint checking account, arranges for all of their substantial joint debts and in all respects is the dominant partner in their marriage partnership.
From December 1983 to April 1990, Abel Holtz arranged for monthly payments of $1,000 and later, $1,500 to be made to Alex Daoud (Daoud) through Capital Bank, then Sommerset Corporation, and then Factors. For the entire duration of this relationship, Daoud was an elected official of the City of Miami Beach, serving as a Commissioner and then as the Mayor beginning in 1985. The payments to Daoud were in part for political favors and influence. Both Javier and Daniel Holtz knew that Daoud was
receiving money as a “retainer” and both attended meetings with Daoud in which the retainer was discussed in connection with their appointments to city boards. While Daoud was an elected official he assisted in getting Daniel Holtz appointed to the zoning board and in getting Javier Holtz appointed to the Visitors Convention Authority (VCA).
Daniel and Javier Holtz, along with the rest of the executive management team, have entered into employment contracts that include standard change-of-control provisions. Pursuant to these contracts, if there is a change in the ownership of Capital Bank and the executive officer is removed from his position with the bank, he is entitled to receive a payment equal to no more than two times his annual compensation.
The contracts were prepared at the recommendation of outside consultants working with outside directors on the Compensation and Benefits Committee. These types of contracts are standard in the banking industry and are viewed favorably by the securities market.
The level of stock options which the Applicants have been awarded is not excessive. [text omitted].
The Applicants have not received an excessive amount of stock options, given their management roles and years of service with the bank. [text omitted].
[text omitted].
The evidence does not support a finding that Fana, Daniel and Javier Holtz as a group have the character, reputation, experience and financial responsibility to control and operate Bancorp and Capital Bank in a legal and proper manner.
The evidence does not support a finding that Fana Holtz, individually, has the character, reputation, experience and financial responsibility to control and operate Bancorp and Capital Bank in a legal and proper manner.
The evidence does not support a finding that Daniel Holtz, individually, has the character, reputation, and financial responsibility to control and operate Bancorp and Capital Bank in a legal and proper manner. Currently, Daniel Holtz does not have control of 25 percent of the shares of Bancorp.
The evidence does not support a finding that Javier Holtz, individually, has the character, reputation, and financial responsibility to control and operate Bancorp and Capital Bank in a legal and proper manner. Currently, Javier Holtz does not have control of 25 percent of the shares of Bancorp.
The evidence does not support a finding that it would be in the best interests of Capital Bank’s shareholders (other than the Holtz shareholders), depositors, and creditors for the applicants ,either as a group or individually, to control Bancorp and Capital Bank.
DONE AND ENTERED in Tallahassee, Leon County, Florida, this 16th day of May, 1997.
SUSAN B. KIRKLAND
Administrative Law Judge
Division of Administrative Hearings The DeSoto Building
1230 Apalachee Parkway
Tallahassee, Florida 32399-3060
(904) 488-9675 SUNCOM 278-9675
Fax Filing (904) 921-6847
Filed with the Clerk of the Division of Administrative Hearings this 16th day of May, 1997.
COPIES FURNISHED:
John B. Fretwell, Esquire Michael C. Gold, Esquire
Department of Banking and Finance Comptroller's Legal Office
101 East Gaines Street
Suite 526, The Fletcher Building Tallahassee, Florida 32399-0350
Eugene E. Stearns, Esquire Betty Chang Rowe, Esquire
150 West Flagler Street Suite 2200 (Museum Tower) Miami, Florida 33130
D. Jean Veta, Esquire Eric G. Lasker, Esquire Post Office Box 7566
Washington, DC 20044-7566
Mark A. Dresnick, P.A. Grand Bay Plaza, Suite 201 2665 South Bayshore Drive Miami, Florida 33133
Alex Halberstein
20185 Country Club Drive Apartment 2501
Adventura, Florida 33180
Honorable Robert F. Milligan Comptroller, State of Florida The Capitol, Plaza Level Tallahassee, Florida 32399-0350
Harry Hooper, General Counsel The Capitol, Room 1302 Tallahassee, Florida 32399-0350
| Issue Date | Proceedings |
|---|---|
| Jan. 15, 1999 | Final Order and Notice of Rights rec`d |
| Jan. 16, 1998 | Case files returned to the Agency. |
| May 16, 1997 | Report of Hearing; Redacted Report of Hearing sent out. CASE CLOSED. Hearing held 08/26/96 through 11/08/96. |
| May 16, 1997 | Order sent out. (Motions to Strike the Notice of final agency action by FDIC & OCC are granted) |
| May 16, 1997 | Order on Motion for Protective Order of Russell Galbut sent out. |
| May 15, 1997 | Order on Hearing Transcript sent out. |
| May 14, 1997 | Order sent out. |
| May 07, 1997 | Petitioners` Designation of Administrative Testimony for Use in Derivative Lawsuit and Reply to Applicants` Response to Petitioners` Designations filed. |
| May 06, 1997 | Applicants` Memorandum in Response to Petitioners` Proposed Designations of Trial Testimony for Use in a Collateral Derivative Action filed. |
| Apr. 30, 1997 | Capital Bancorp`s Designation of Confidential Exhibits filed. |
| Apr. 30, 1997 | Petitioners` Response to Parties` and Non-Parties Designations of Exhibits Proposed to Remain Under Seal (Filed under seal) filed. |
| Apr. 28, 1997 | Petitioner`s Response to Non-Party Capital Bancorp`s Motion for Enlargement of Time (filed via facsimile). |
| Apr. 28, 1997 | Department`s Trial Exhibit Confidentiality Designations; Exhibits That the Department Believes Should be Public filed. |
| Apr. 28, 1997 | (Petitioner) This Entire Document is Designated Highly Confidential Pursuant to the confidentiality Order Dated March 19, 1996; Abel Holtz`s Designation of Exhibits to Remain Under Seal (filed via facsimile). |
| Apr. 25, 1997 | (Applicant) Notice of Telephonic Hearing; Applicant`s Designation of Exhibits to Remain Under Seal (filed via facsimile). |
| Apr. 25, 1997 | Non Party, Capital Bancorp`s Motion for Enlargement of Time (filed via facsimile). |
| Apr. 25, 1997 | Petitioners` Proposed Findings of Fact ; Applicants` Proposed Findings of Fact ; Department`s Written Report Consisting of Findings of Fact and Rulings on Evidentiary Matters w/cover letter (Filed under seal) filed. |
| Apr. 16, 1997 | Letter to B. Rowe from J. Rebak Re: Telephone conference (Filed by Fax) filed. |
| Apr. 16, 1997 | Petitioners` Proposed Findings of Fact; Department`s Written Report Consisting of Findings of Fact and Rulings on Evidentiary Matters w/cover letter (Filed under seal - Confidential material) (Filed by Fax) filed. |
| Apr. 16, 1997 | Letter to SBK from Joseph Rebak (RE: request to participate in hearing) (filed via facsimile). |
| Apr. 15, 1997 | (Petitioner) Notice of Hearing (filed via facsimile). |
| Apr. 15, 1997 | Applicants` Opposition to Petitioners` Motion for an Order Permitting the Use of the Administrative Record and Discovery in a Collateral Derivative Action filed. |
| Apr. 11, 1997 | Supplemental Information in Support of the Non-EPC Permit filed. |
| Apr. 10, 1997 | (Petitioner) Reply to Applicants` Opposition to Petitioners` Motion for An Order Permitting the Use of the Administrative Record and Discovery in Related Proceedings (filed via facsimile). |
| Apr. 07, 1997 | Petitioner`s Motion for An Order Permitting the Use of the Administrative Record and Discovery In Related Collateral Proceedings; Cover Letter (filed via facsimile). |
| Feb. 18, 1997 | Petitioners` Motion to Establish a Procedure to Open the Administrative Record w/exhibits; Order Setting Procedure to Open the Administrative Record filed. |
| Feb. 12, 1997 | Petitioners` Brief In Reply to Applicants` Consolidated Memorandum In Opposition to Motions of Petitioners` and the Department of Banking and Finance`s to Strike Applicants` Notice of Final Agency Action (filed via facsimile) rec`d . |
| Feb. 03, 1997 | Capital Bank`s Opposition to Motion of Intervenor the Miami Herald for Access to Redacted Hearing Transcript (filed via facsimile). |
| Jan. 31, 1997 | (Filed Under Seal Pursuant to and Subject to Confidentiality Orders Dated March 19, 1996 and August 26, 1996) |
| Jan. 28, 1997 | (Respondent) Motion to Strike and Suppress From the Record Applicants` Notice of Final Agency Action by the FDIC and OCC Filed on January 23, 1997 filed. |
| Jan. 27, 1997 | (From J. Budney) Motion of Intervenor the Miami Herald for Access to Redacted Hearing Transcript w/cover letter filed. |
| Jan. 23, 1997 | (Filed Under Seal Pursuant to and Subject to Confidentiality Order Dated March 19, 1996 and the Order Dated August 26, 1996) Applicants` Notice of Final Agency Action By the FDIC and OCC (filed via facsimile). |
| Jan. 07, 1997 | Petitioners` Proposed Findings of Fact ; Disk filed. |
| Jan. 06, 1997 | Petitioners` Proposed Findings of Fact ; (Filed Under Seal) Notice of Departments` Filing of Proposed Findings of Fact; Department`s Written Report Consisting of Findings of Fact and Rulings on Evidentiary Matters; Disk filed. |
| Jan. 06, 1997 | Applicants' Proposed Findings of Fact; Cover Letter (filed under seal, tagged) filed. |
| Dec. 20, 1996 | Applicants Supplemental Filing of Exhibits (filed under seal) filed. |
| Dec. 16, 1996 | Letter to SBK from F. Zemel Re: Response to letter dated 12/7/96 filed. |
| Dec. 13, 1996 | Notice of Submission of Petitioner`s Exhibits Admitted at Final Administrative Hearing (filed via facsimile). |
| Dec. 13, 1996 | One Large Brown Envelope Filed under seal pursuant to Order dated 3/19/96 filed. |
| Dec. 13, 1996 | Order On Motion for Protective Order of Russell Galbut (for Judge signature); Cover Letter filed. |
| Dec. 12, 1996 | Volumes 1-20 , 21-40 , 41-71 Transcript filed. |
| Dec. 12, 1996 | Condensed Final Hearing Transcripts (Binder 1, Volumes 1 thru 16); Condensed Final Hearing Transcripts (Binder 2, Volumes 17 thru 31); Condensed Final Hearing Transcripts (Binder 3, Volumes 32 thru 46); Condensed Final Hearing Transcripts (Binder 4, Volum |
| Dec. 12, 1996 | (Stearns, Weaver) Exhibits (2 boxes, tagged) filed. |
| Dec. 11, 1996 | Holtz Family Application (Filed under seal) filed. |
| Dec. 11, 1996 | (D. Jean Veta) Exhibits (5, Boxes, tagged); (Stearns, Weaver) Exhibits (1 Box #4, tagged) filed. |
| Dec. 06, 1996 | Letter to SBK from Mark Dresnick (RE: response to Franklin Zemel's letter of December 4, 1996.) (filed via facsimile). |
| Dec. 05, 1996 | (Proposed) Order on Motion for Protective Order of Russell Galbut; Cover letter from F. Zemel filed. |
| Nov. 04, 1996 | CASE STATUS: Hearing Held. |
| Oct. 29, 1996 | CASE STATUS: Hearing Partially Held, continued to 11/5/96; 9:00am; Miami. |
| Oct. 25, 1996 | (Leon Simkins) Motion for Protective Order (filed via facsimile). |
| Oct. 22, 1996 | CASE STATUS: Hearing Partially Held, continued to 10/29/96; 12:00; Miami. |
| Oct. 22, 1996 | (From M. Dresnick) Notice of Hearing (filed via facsimile). |
| Oct. 21, 1996 | Applicants` Response to Motion for Protective Order of Russell Grant;(Applicants) Notice of Hearing; (D. Jean Veta) Subpoena Duces Tecum (filed via facsimile). |
| Oct. 18, 1996 | Motion for Protective Order of Russell Galbut (filed via facsimile). |
| Oct. 17, 1996 | (33) Subpoena Ad Testificandum; (27) Verified Return of Service; (6) Affidavit of Service filed. |
| Oct. 16, 1996 | (From M. Dresnick) Notice of Taking Deposition Duces Tecum filed. |
| Oct. 04, 1996 | (Applicants) Notice of Taking Deposition filed. |
| Sep. 30, 1996 | CASE STATUS: Hearing Partially Held, continued to 10/22/96; 12:00; Miami. |
| Sep. 30, 1996 | (From M. Dresnick) (2) Notice of Taking Deposition (Continuation) filed. |
| Sep. 24, 1996 | CASE STATUS: Hearing Partially Held, continued to 9/30/96; 12:00; Miami. |
| Sep. 23, 1996 | Petitioners` Amended Witness List (filed via facsimile). |
| Sep. 19, 1996 | (Petitioners) Motion to Amend Witness List (filed via facsimile). |
| Sep. 18, 1996 | (Applicants) Re-Notice of Taking Deposition (filed via facsimile). |
| Sep. 16, 1996 | (Petitioner) Notice of Filing; Exhibit A Confidentiality Agreement filed. |
| Sep. 16, 1996 | Applicants` Motion to Compel Depositions and to Allow Testimony filed. |
| Sep. 13, 1996 | (Petitioner) Notice of Taking Deposition; Subpoena Ad Testificandum (filed via facsimile). |
| Sep. 11, 1996 | (Petitioner) Re-Notice of Taking Deposition Duces Tecum (filed via facsimile). |
| Sep. 03, 1996 | CASE STATUS: Hearing Partially Held, continued to 9/9/96; 9:00am; Miami. |
| Aug. 27, 1996 | Order On Miami Herald`s Motion for Limited Intervention, to Vacate Closure Order, and to Obtain Access to Proceedings (filed via facsimile). |
| Aug. 26, 1996 | CASE STATUS: Hearing Partially Held, continued to 9/3/96; 10:00am; Miami. |
| Aug. 26, 1996 | (Petitioners) Re-Notice of Taking Deposition (Cancels depo of August 26, 1996) filed. |
| Aug. 23, 1996 | Petitioner`s Amended Prehearing Exhibit List (filed via facsimile). |
| Aug. 23, 1996 | Applicants` and Department`s Joint Motion In Limine (filed via facsimile). |
| Aug. 23, 1996 | Petitioners` Objections to Applicants` Pretrial Exhibit List (filed via facsimile). |
| Aug. 22, 1996 | Applicants` Objections to Pretrial Exhibit Lists (filed via facsimile). |
| Aug. 22, 1996 | (Petitioner) Notice of Taking Deposition filed. |
| Aug. 21, 1996 | Applicant's Pre-Trial Exhibit List (filed via facsimile). |
| Aug. 21, 1996 | Prehearing Order sent out. |
| Aug. 21, 1996 | (Petitioner) Notice of Taking Deposition (filed via facsimile). |
| Aug. 21, 1996 | Petitioner`s Prehearing Exhibit List (filed via facsimile). |
| Aug. 20, 1996 | List of Department's Exhibits (filed via facsimile). |
| Aug. 20, 1996 | Filed Under Seal Highly Confidential Material Pursuant to and Subject to Confidentiality Order Dated March 19, 1996 Applicants` Prehearing Brief filed. |
| Aug. 19, 1996 | Filed Under Seal Highly Confidential Material Pursuant to and Subject to Confidential Order Dated March 19, 1996; Applicants` Prehearing Brief (filed via facsimile). |
| Aug. 19, 1996 | Joint Prehearing Stipulation; Petitioners` Amended Witness List (filed via facsimile). |
| Aug. 19, 1996 | (Petitioner) Notice of Taking Deposition (filed via facsimile). |
| Aug. 16, 1996 | Subpoena; (2) Proof of Service filed. |
| Aug. 16, 1996 | (11) Subpoena Duces Tecum (from E. Stearns); (25) Verified Return of Service; (10) Subpoena; (6) Subpoena Ad Testificandum; Affidavit of Service; (3) Subpoena (Superior Court of the District of Columbia); (2) Notice of Taking Deposition; (2) Proof of Serv |
| Aug. 15, 1996 | (Petitioners) Re-Notice of Taking Deposition (filed via facsimile). |
| Aug. 14, 1996 | (Petitioners) Notice of Taking Depositions (filed via facsimile). |
| Aug. 14, 1996 | Capital Bancorp`s Capital Bank`s and Capital Factors` Motion to Close Hearing to The Public, and Supporting Memorandum of Law (filed via facsimile). |
| Aug. 13, 1996 | Filed Under Seal Highly Confidential Material Pursuant to and Subject to Confidentially Order Dated March 19, 1996 Applicants` Response to Petitioners` Motion to Modify Discovery Order (filed via facsimile). |
| Aug. 13, 1996 | (Applicants) Motion for A Prehearing Order (filed via facsimile). |
| Aug. 13, 1996 | Certificate of Applicants` Publication of Notice of Administrative Hearing (filed via facsimile). |
| Aug. 13, 1996 | Applicants' Revised Witness List filed. |
| Aug. 12, 1996 | Petitioner`s Amended Witness List (filed via facsimile). |
| Aug. 12, 1996 | Petitioners` Response to Applicants` Submission of Statutory Citations Regarding Final Agency Determinations (filed via facsimile). |
| Aug. 12, 1996 | (From S. Ellsworth) Notice of Taking Deposition filed. |
| Aug. 09, 1996 | (Michael Gold) Notice of Change of Address filed. |
| Aug. 09, 1996 | Applicant's Submission of Statutory Citations Regarding Final Agency Determinations (filed via facsimile). |
| Aug. 09, 1996 | Re-Notice of Telephonic Hearing (filed via facsimile). (from E. Stearns) |
| Aug. 09, 1996 | Exhibit 7 & 9 (filed via facsimile). |
| Aug. 08, 1996 | (Petitioners) Notice of Telephonic Hearing (filed via facsimile). |
| Aug. 08, 1996 | (Petitioners) Filed Under Seal Highly Confidential Material Pursuant to and Subject to Confidentiality Order Dated March 19, 1996 Motion to Modify Discovery Order and to Compel the Production of Documents; and Motion for Leave to Take Depositions of Witne |
| Aug. 08, 1996 | Filed Under Seal Highly Confidential Material Pursuant to And Subject to Confidentiality Order Dated March 19, 1996 Motion to Modify Discovery Order and to Compel the Production of Documents; and Motion for Leave to Take Depsitions of Witnesses Served But |
| Aug. 06, 1996 | Filed Under Seal Highly Confidential Material Pursuant to and Subject to Confidentiality Order Dated March 19, 1996/Applicants` Response to Petitioners` Motion to Compel and Request for In Camera Inspection (filed vi a facsimile) filed. |
| Aug. 06, 1996 | Notice of Telephonic Hearing (Petitioner) (filed via facsimile). |
| Aug. 06, 1996 | Notice of Filing Complaint Against The Office of The Comptroller of The Currency and The Federal Deposit Insurance Corporation; Complaint filed. |
| Aug. 05, 1996 | Revised Notice of Taking Deposition filed. (from J. Veta) |
| Aug. 02, 1996 | Letter to B. Rowe from R. Shaw (re: subpoenas; Production of documents) (filed via facsimile). |
| Aug. 02, 1996 | Objections of Witness Capital Bancorp and Petition Under S120.58, FLA. STATS. (Non-Party) (filed via facsimile). |
| Jul. 31, 1996 | Petitioner`s Motion (1) To Compel Applicants to Produce Documents and Provide Full and Complete Answers to Interrogatories and (2) for An In Camera Inspection of A Purportedly Privileged Documents (filed via facsimile). |
| Jul. 31, 1996 | Notice of Taking Deposition (Ellsworth) filed. |
| Jul. 30, 1996 | (Petitioner) Notice of Taking Deposition (filed via facsimile). |
| Jul. 29, 1996 | (Petitioner) Notice of Taking Deposition (filed via facsimile). |
| Jul. 26, 1996 | (Eugene Stearns) (2) Subpoena Duces Tecum; (2) (Eugene Stearns) Notice of Taking Deposition Duces Tecum (filed via facsimile). |
| Jul. 25, 1996 | (Eugene Stearns) Subpoena; Notice of Taking Deposition; (3) Re-Notice of Taking Deposition; (filed via facsimile). |
| Jul. 24, 1996 | Order on in Camera Inspection sent out. |
| Jul. 24, 1996 | (Petitioner) 2/Notice of Taking Deposition; (Petitioner) 2/Subpoena; (Petitioner) Subpoena Duces Tecum; (Petitioner) Notice of Taking Deposition Duces Tecum; (Petitioner) Re-Notice of Continuation of Deposition (filed via facsimile). |
| Jul. 23, 1996 | (Petitioner) Notice of Taking Deposition; (Petitioner) Subpoena Ad Testificandum (filed via facsimile). |
| Jul. 23, 1996 | (5) Notice of Taking Deposition (from Eugene Stearns) (filed via facsimile). |
| Jul. 22, 1996 | (2) Notice of Taking Deposition (from Eugene Stearns) (filed via facsimile). |
| Jul. 22, 1996 | Applicant Daniel Holtz`s Answers and Objections to the Department of Banking`s Request for Admissions (filed via facsimile). |
| Jul. 22, 1996 | (Petitioners) Notice of Filing Complaint Against the Federal Reserve Board; Complaint filed. |
| Jul. 22, 1996 | (Petitioners) Notice of Continuation of Deposition(filed via facsimile). |
| Jul. 19, 1996 | (Eugene Stearns) 3/Notice of Taking Deposition (filed via facsimile). |
| Jul. 19, 1996 | Applicants` Supplemental Identification of Potential Witnesses (filed via facsimile). |
| Jul. 19, 1996 | Petitioners` Witness List (filed via facsimile). |
| Jul. 18, 1996 | (Respondent) Notice of Filing List of Witnesses; Notice of Submitting Confidential Materials to Hearing Officer for In Camera Viewing Pursuant to 655.057(4), Florida Statutes and Agreed Motion for Expedited Order to Release Materials (Tagged |
| Jul. 18, 1996 | Letter to D. Ash from Esonia JonBaptiste (request for certified copies) filed. |
| Jul. 18, 1996 | (Petitioner) Subpoena; (Respondent) Notice of Taking Deposition (filed via facsimile). |
| Jul. 16, 1996 | Notice of Taking Deposition filed. |
| Jul. 15, 1996 | (Plaintiffs) Re-Notice of Taking Deposition (fax) filed. |
| Jul. 15, 1996 | (Petitioner) Notice of Taking Deposition; (Petitioner) Corrected Notice of Taking Deposition; Subpoena (fax) filed. |
| Jul. 12, 1996 | (Petitioners) Notice of Taking Deposition filed. |
| Jul. 12, 1996 | (Petitioner) 3/Notice of Taking Deposition; (2) Subpoena filed. |
| Jul. 12, 1996 | (Applicant`s) Notice of Telephone Hearing filed. |
| Jul. 11, 1996 | (Plaintiff) 2/Notice of Taking Deposition; (Plaintiff) 2/RE-Notice of Taking Deposition filed. |
| Jul. 11, 1996 | Applicants` Reply to Petitioners` Response to Applicants` Motion for A Protective Order; Cover Letter filed. |
| Jul. 10, 1996 | Petitioners` Motion to Extend The Time to Conclude Discovery; and Reply to Applicants` Response to Hearing Officer`s Orders and Motion for Protective Order filed. |
| Jul. 09, 1996 | (Petitioner) 2/Notice of Taking Deposition filed. |
| Jul. 09, 1996 | (Petitioner) Subpoena; (Petitioner) 2/Notice of Taking Deposition; (Petitioner) Subpoena Ad Testificandum filed. |
| Jul. 08, 1996 | Letter to J. Stearns from A. Caruana Re: Confirming telephone conversation regarding subpoena for C. Dascal filed. |
| Jul. 08, 1996 | (Petitioner) 2/Notice of Taking Deposition; (Petitioner) Subpoena; (Petitioner) Subpoena Duces Tecum filed. |
| Jul. 05, 1996 | (Petitioners) Notice of Filing Petition to Enforce Administrative Subpoenas Duces Tecum filed. |
| Jul. 03, 1996 | (Petitioners) 2/Notice of Taking Deposition; (2) Subpoena Duces Tecum; Service List; filed. |
| Jul. 02, 1996 | Applicants` Identification of Potential Witnesses; (Petitioner) Proposed Order (for Hearing Officer signature) filed. |
| Jul. 01, 1996 | Applicants` Response to Hearing Officer`s Orders of June 19, 1996 and June 24, 1996 and Motion for A Protective Order filed. |
| Jun. 28, 1996 | Applicants` Objection to Petitioners` Notice of Filing of Subpoena Duces Tecum Pursuant to Florida Rule of Civil Procedure 1.351 filed. |
| Jun. 28, 1996 | (Eugene Stearns) Subpoena Ad Testificandum; (Petitioners) Notice of Taking Deposition filed. |
| Jun. 25, 1996 | Notice of Serving Amended Supplemental Answrs to Applicants First Setof Interrogatories to Petitioner Simon Portnoy; and of Serving Verifications to The Objections and Answers and the Supplemental Answers to Applicants First Set o f Interrogatories to Pet |
| Jun. 25, 1996 | (Plaintiff) Notice of Taking Deposition Duces Tecum filed. |
| Jun. 25, 1996 | (Petitioner) 2/Notice of Taking Deposition; Subpoena Ad Testificandum; Subpoena Duces Tecum filed. |
| Jun. 24, 1996 | (From J. Stearns) (3) Notice of Taking Deposition Duces Tecum filed. |
| Jun. 24, 1996 | Petitioner`s Response to Applicants` Amended Objection to Notice of Filing Subpoenas Duces Tecum Pursuant to Florida Rule of Civil Procedure 1.351 filed. |
| Jun. 21, 1996 | (Petitioner) 3/Notice of Taking Deposition; (Petitioner) 2/Subpoena Duces Tecum; (Petitioner) Re-Notice of Taking Deposition filed. |
| Jun. 21, 1996 | (Petitioners) Notice of Telephonic Hearing filed. |
| Jun. 21, 1996 | (Petitioners) Notice of Telephonic Hearing filed. |
| Jun. 20, 1996 | Applicants` Amended Objection to Petitioners` Notice of Filing of Subpoenas Duces Tecum Pursuant to Florida Rule of Civil Procedure 1.351 filed. |
| Jun. 20, 1996 | Applicants` Objection to Petitioners` Notice of Filing of Subpoenas Duces Tecum Pursuant to Florida Rule of Civil Procedure 1.351 filed. |
| Jun. 20, 1996 | (Petitioners) Notice of Subpoena Duces Tecum Without Deposition filed. |
| Jun. 18, 1996 | Applicant Fana Holtz`s Notarized Signature Addendum to Answers to Petitioners` First Set of Interrogatories; Applicant Daniel Holtz`s Notarized Signature Adendum to Answers to Petitioners` First Set of Interrogatories; Applicant Javier Holtz`s Notarized S |
| Jun. 12, 1996 | (Petitioner) 3/Notice of Subpoena Duces Tecum Without Deposition filed. |
| Jun. 10, 1996 | Order on in Camera Inspection sent out. |
| Jun. 06, 1996 | CC: Letter to Jennifer Stearns from Eric Lasker (RE: witnesses names and address) filed. |
| Jun. 03, 1996 | Applicant Javier J. Holtz`s Objections and Answers to Petitioners` First Set of Interrogatories; Applicant Daniel M. Holtz`s Objections and Answers to Petitioners` Second Set of Requests for Production of Documents; Applicant Javier J. Holtz`s Objections |
| Jun. 03, 1996 | Applicant Daniel M. Holtz`s Objections and Answers to Petitioners` First Set of Interrogatories; Applicant Fana Holtz`s Objections and Answers to Petitioners` Third Set of Requests for Production of Documents;Applicant Fana Holtz` s Objections and Answers |
| May 29, 1996 | (Respondent) Notice of Submitting Confidential Materials to Hearing Officer for In Camera Viewing Pursuant to 655.057(4), Florida Statutes;Attachments (Confidential Tagged) filed. |
| May 20, 1996 | Applicant Javier J. Holtz`s Objections to Petitioners Second Set of Requests for Production of Documents filed. |
| May 20, 1996 | Applicant Fana Holtz`s Objections to Petitioners First Set of Interrogatories; Cover Letter; Applicant Javier J. Holtz`s Objections to Petitioners First Set of Interrogatories; Applicant Daniel M. Holtz`s Objections to Petitioners Second Set of Requests f |
| May 17, 1996 | Petitioner`s Reply to Applicants Memorandum In Response to Petitioners Emergency Motion to Compel Applicants to Produce Documents filed. |
| May 17, 1996 | Petitioner`s Reply to Applicants Memorandum In Response to Petitioner`s Emergency Motion to Compel Applicants To Produce Documents filed. |
| May 15, 1996 | Applicants` Memorandum in Response to Petitioners` Emergency Motion to Compel Applicants to Produce Documents filed. |
| May 14, 1996 | Petitioners` Emergency Motion to Compel Applicants to Produce Documents filed. |
| May 13, 1996 | Order Granting Motion to Quash Subpoena Duces Tecum and for Protective Order sent out. |
| May 13, 1996 | Clarification of Order on Discovery Motions sent out. |
| May 03, 1996 | (Respondent) Notice of Submitting Confidential Materials to Hearing Officer for In Camera Viewing Pursuant to 655.057(4), Florida Statutes (1 Box sealed); (Respondent) Notice of Hearing On Motion filed. |
| Apr. 30, 1996 | (Petitioners) Notice of Filing Documents In Support of Petitioners Response to Applicants Memorandum In Support of The Department`s Motion to Quash Subpoena Duces Tecum and for Protective Order and Sanctions filed. |
| Apr. 29, 1996 | Petitioners Response to Applicants Memorandum In Support of The Department`s Motion to Quash Subpoena Duces Tecum, and Protective Order and Sanctions filed. |
| Apr. 24, 1996 | (From B. Rowe) Notice of Serving Supplemental Answers to Applicants` First Set of Interrogatories to Petitioners Simon Portnoy, Leonard A. Wien, Nathan J. Esformes and Stanley I. Worton, M.D. filed. |
| Apr. 22, 1996 | (Respondent) Notice of Hearing on Motion filed. |
| Apr. 17, 1996 | Notice of Filing; (3 Volumes) DOAH Court Reporter Final Hearing Transcript filed. |
| Apr. 17, 1996 | Applicants` Memorandum in Support of the Department`s "Motion to Quash Subpoena Duces Tecum, for Protective Order and Sanctions" filed. |
| Apr. 15, 1996 | Applicants` Reply Memorandum in Support of Their Request for Clarification of the Hearing Officer`s March 26, 1996 Order on Discovery Motions filed. |
| Apr. 12, 1996 | (Petitioners) Notice of Filing Petition to Enforce Subpoena Duces Tecum; (Plaintiff) Petition to Enforce Subpoena Duces Tecum filed. |
| Apr. 10, 1996 | Petitioners` Response to Florida Department of Banking and Finance`s Memorandum on Sections 655.059 and 658.39, Florida Statutes filed. |
| Apr. 10, 1996 | Petitioners` Response to Applicants` Request for Clarification of the Hearing Officer`s March 26, 1996 Order on Discovery Motions filed. |
| Apr. 10, 1996 | Motion to Quash Subpoena Duces Tecum, for Protective Order and Sanctions filed. |
| Apr. 10, 1996 | Petitioners' Response to Applicants' Request for Clarification of theHearing Officer's March 26, 1996 Order on Discovery Motions; Petitioner's Response to Florida Department of Banking & Finance's Memorandum on Sections 655.059 an d 658.39, Florida Statut |
| Apr. 08, 1996 | (Proposed) Revised Order on Discovery Motions filed. |
| Apr. 08, 1996 | Applicants` Request for Clarification of the Hearing Officer`s March 26, 1996 Order on Discovery Motions filed. |
| Mar. 26, 1996 | (Respondent) Sections 655.059 and 658.39, Florida Statutes filed. |
| Mar. 26, 1996 | (From M. Whiddon) Notice of Filing; Excerpt of Proceedings filed. |
| Mar. 26, 1996 | Order on Discovery Motions sent out. |
| Mar. 26, 1996 | Division of Banking Reports of Capital Bank (2 Confidential Expando Folders TAGGED); Certificate of Custodian of Records; Cover Letter to SBK from M. Gold (re: confidential materials) filed. |
| Mar. 25, 1996 | Petitioners Second Request for Production of Documents to the Florida Department of Banking & Finance filed. |
| Mar. 21, 1996 | (From D. Ross) Notice of Filing Supplemental Exhibit; Letter to C. Loumiet from S. Siciliano Re: Regards to letter dated 3/5/96 filed. |
| Mar. 19, 1996 | Confidentiality Order sent out. |
| Mar. 18, 1996 | (From R. Shaw) Notice of Filing Affidavit of Randy J. Shaw, Esq. and Christina Chalkley; Affidavit of Christina Chalkley in Support of Objections to Subpoena Duces Tecum to Capital Factors, Inc.; Affidavit of Randy J. Shaw, Esq. in Support of Objections t |
| Mar. 15, 1996 | (Petitioners) Memorandum in Opposition to Applicants` Motion for a Protective Order (Not complete) filed. |
| Mar. 15, 1996 | Response to Motion (1) for in Camera Inspection of Purportedly Confidential Documents to Compel the Department of Banking and Finance to Produce Same, and (2) to Compel the Department to Seek Permission from Federal Agencies to Use Their Documents and Inf |
| Mar. 15, 1996 | Response of Witnesses Capital Bancorp, Capital Bank and Capital Factors to Petitioners` Motion to Compel filed. |
| Mar. 15, 1996 | (Petitioners) Memorandum in Opposition to Applicants` Motion for a Protective Order w/cover letter filed. |
| Mar. 15, 1996 | Applicants` Consolidated Opposition to Petitioners` Motion to Compel Production of Documents From Applicants w/cover letter filed. |
| Mar. 15, 1996 | Abel Holtz`s Notice of Adopting Applicant`s Motion filed. |
| Mar. 14, 1996 | Memorandum in Opposition to Applicants` Motion to Compel Discovery From Petitioners w/cover letter filed. |
| Mar. 13, 1996 | Joint Motion for a Confidentiality Order; Order (Untitled) (for Hearing Officer Signature) filed. |
| Mar. 12, 1996 | Second Notice of Hearing sent out. (hearing set for Aug. 26-30 & Sept. 3-6, 1996; 9:00am; Miami) |
| Mar. 12, 1996 | (From M. Gold) Supplement to the Department of Banking & Finance`s Objections to Petitioners` First Request for Production of Documents and Motion for Protective Order (No original) filed. |
| Mar. 12, 1996 | Supplement to the Department of Banking & Finance`s Objections to Petitioners` First Request for Production of Documents and Motion for Protective Order filed. |
| Mar. 11, 1996 | (Petitioners) Motion to Compel Javier J. Holtz to Produce all Documents Responsive to Petitioners` First Request for Production of Documents filed. |
| Mar. 11, 1996 | (Respondent) Dates of Availability filed. |
| Mar. 11, 1996 | Motion (1) for in Camera Inspection of Purportedly Confidential Documents to Compel the Department of Banking and Finance to Produce Same, and (2) to Compel the Department to Seek Permission from Federal Agencies to Use Their Documents and Information in |
| Mar. 11, 1996 | Motion to Compel Daniel M. Holtz to Produce All Documents Responsive to Petitioners` First Request for Production of Documents; Petitioners` Notice of Unavailability filed. |
| Mar. 11, 1996 | Motion to Compel Fana Holtz to Produce All Documents Responsive to Petitioners` First and Second Request for Production of Documents; Motion to Compel Javier J. Holtz to Produce All Documents Responsive to Petitioners` First Request for Production of Docu |
| Mar. 11, 1996 | Motion to Compel Fana Holtz to Produce All Documents Responsive to Petitioners` First and Second Request for Production of Documents w/cover sheet filed. |
| Mar. 11, 1996 | (Petitioners) Notice of Filing Certification of Counsel filed. |
| Mar. 08, 1996 | (From M. Dresnick) Notice of Appearance as Co-Counsel on Behalf of the Applicants filed. |
| Mar. 08, 1996 | (From B. Rowe) Motion to Compel Fana Holtz to Produce All Documents Responsive to Petitioners` First and Second Request for Production of Documents w/cover sheet (Only 16 pages no signature page) filed. |
| Mar. 08, 1996 | (From E. Lasker) Applicants` Motion for a Protective Order; Memorandum in Support of Applicants` Motion for a Protective Order w/exhibits w/cover letter filed. |
| Mar. 08, 1996 | Applicants` Motion for a Protective Order; Memorandum in Support of Applicants` Motion for a Protective Order w/cover letter filed. |
| Mar. 08, 1996 | (From B. Rowe) Motion to Compel Daniel M. Holtz to Produce All Documents Responsive to Petitioners` First Request for Production of Documents w/cover sheet (No signature page) filed. |
| Mar. 08, 1996 | Petitioners` Notice of Unavailability filed. |
| Mar. 08, 1996 | Petitioners' Motion to Compel Capital Bancorp to Comply With SubpoenaDuces Tecum; Petitioners' Motion to Compel Bank to Comply With Subpoena Duces Tecum; Petitioners' Motion to Compel Capital Factors to Comply With Subpoena Duces Tecum w/cover letter rec |
| Mar. 08, 1996 | Applicants` Response to February 23, 1996 Order Re: Dates of Availability in August and September 1996 filed. |
| Mar. 07, 1996 | Applicants` Motion to Compel Discovery From Petitioners (w/attachments.) w/cover letter filed. |
| Mar. 04, 1996 | (Petitioners) Notice of Taking Deposition; Subpoena w/cover sheet filed. |
| Feb. 29, 1996 | Notice of Hearing sent out. (hearing set for 3/18/96; 9:00am; Tallahassee) |
| Feb. 28, 1996 | Petitioners` Motion to Compel Abel Holtz to Comply With Subpoena Duces Tecum filed. |
| Feb. 23, 1996 | Order sent out. (parties joint Motion for a continuance and an Extension in the Discovery schedule is granted) |
| Feb. 21, 1996 | Joint Motion for Continuance and An Extension In The Discovery Schedule filed. |
| Feb. 16, 1996 | Abel Holtz`s Motion to Quash Subpoena Duces Tecum Or for Protective Order filed. |
| Feb. 16, 1996 | Abel Holtz`s Motion to Quash Subpoena Duces Tecum or for Protective Order filed. |
| Feb. 15, 1996 | (Petitioners) Objections and Answers to Applicants` First Set of Interrogatories to Petitioner Simon Portnoy; Objections and Answers to Applicants` First Set of Interrogatories to Petitioner Nathan J. Esformes; Objections and Responses to Applicants` Firs |
| Feb. 15, 1996 | (Petitioners) Objections and Responses to Applicants` First Set of Request for Production of Documents to Petitioner Leonard A. Wien; Objections and Answers to Applicant`s First Set of Interrogatories to Petitioner Leonard A. Wein filed. |
| Feb. 15, 1996 | (Petitioners) Objections and Responses to Applicant`s First Set of Requests for Production of Documents to Petitioner Stanley I. Worton, M.D.; Objections and Answers to Applicant`s First Set of Interrogatories to Petitioner Stanley I. Worton, M.D. filed. |
| Feb. 14, 1996 | Abel Holtz`s Motion to Postpone Deposition filed. |
| Feb. 14, 1996 | (Petitioners) Emergency Motion to Compel The Deposition of Non Party Abel Holtz filed. |
| Feb. 13, 1996 | Applicant Fana Holtz`s Objections to Petitioners` Second Set of Requests for Production of Documents; Applicants` Response to Petitioners` Subpoena Upon Capital Bank and Capital Bank`s Objections and Petition for a Protective Order in Response Thereto rec |
| Feb. 13, 1996 | Abel Holtz`s Motion to Postpone Deposition filed. |
| Feb. 08, 1996 | Applicant Javier J. Holtz`s Objections to Petitioners First Set of Requests for Production of Documents; Applicant Daniel Holtz`s Objections to Petitioners First Set of Requests for Production of Documents; Cover Letter filed. |
| Feb. 08, 1996 | Objections of Witness Capital Factors Holding, Inc. and Petition Under 120.58 Fla. Stat.; Objections of Witness Capital Bank and Petition Under 120.58 Fla. Stat.; Objections of Witness Capital Bancorp and Petition Under 120.58, Fla. Stats. filed. |
| Feb. 08, 1996 | The Department of Banking & Finance`s Objections to Petitioner`s First Request for Production of Documents and Motion for Protective Order filed. |
| Feb. 07, 1996 | Petitioner`s Reply In Support of Motion for A Protective Order filed. |
| Feb. 05, 1996 | Applicants` Response to Petitioners` Motion for a Protective Order; Order (for Hearing Officer Signature) w/cover letter filed. |
| Feb. 05, 1996 | (Petitioners) Notice of Taking Deposition Duces Tecum; Notice of Taking Video Tape Deposition (Duces Tecum) filed. |
| Jan. 31, 1996 | Petitioners` Second Request for Production of Documents to Applicant,Fana Holtz filed. |
| Jan. 26, 1996 | Petitioner`s Motion for The Entry of A Protective Order Regarding Confidential Information; Protective Order Regarding Confidential Information (for Hearing Officer signature) filed. |
| Jan. 25, 1996 | Order Setting Discovery Schedule sent out. |
| Jan. 25, 1996 | Petitioners` First Request for Production of Documents to the Florida Department of Banking & Finance filed. |
| Jan. 25, 1996 | Petitioners` First Request for Production of Documents to Applicant, Javier J. Holtz; Petitioners` First Request for Production of Documents to Applicant, Daniel M. Holtz; Petitioners` First Request for Production of Documents to Applicant, Fana Holtz rec |
| Jan. 24, 1996 | Petitioners Motion for The Entry of A Protective Order Regarding Confidential Information; Protective Order Regarding Confidential Information (for Hearing Officer signature) filed. |
| Jan. 05, 1996 | (Michael C. Gold) Notice of Appearance filed. |
| Jan. 05, 1996 | Applicants` Response to Petitioners` Motion for a Scheduling Conference filed. |
| Jan. 02, 1996 | Petitioners` Motion for Scheduling Conference to Set Discovery Schedule w/cover letter filed. |
| Dec. 28, 1995 | Order of Prehearing Instructions sent out. |
| Dec. 28, 1995 | Notice of Hearing sent out. (hearing set for April 1-12, 1996; 9:00am; Miami) |
| Dec. 15, 1995 | Joint Response to Initial Order filed. |
| Dec. 11, 1995 | Letter to Hearing Officer from Betty Chang Rowe Re: Initial Order; Letter to Eugene E. Stearns from D. Jean Veta Re: Proposed response to Initial Order filed. |
| Nov. 30, 1995 | Initial Order issued. |
| Nov. 20, 1995 | Notice Of Intention To Appear In Any Administrative Proceeding Concerning The Holtz Family Application To Acquire Or Maintain Control Of Capital Bank; Agency referral letter; Petition for Formal Administrative Hearing and The Appointment Of A Hearing Offi |
| Issue Date | Document | Summary |
|---|---|---|
| Jun. 16, 1997 | Agency Final Order | |
| Jun. 16, 1997 | Agency Final Order | |
| May 16, 1997 | Recommended Order | Applicants did not meet criteria for approving change of control of bank. |
