February 11, 2008
OCC Issues Suspension Notice Against the Chairman of the Board of Directors of First National Community Bank
WASHINGTON — The Office of the Comptroller of the Currency ("OCC") announced today that it has suspended Louis A. DeNaples, Chairman of the Board of Directors of First National Community Bank, Dunmore, PA, from office, and prohibited him from any participation in any other depository institutions, while his criminal charges for perjury are pending.
Mr. DeNaples was charged with four counts of perjury on January 23, 2008, by the Commonwealth of Pennsylvania. The perjury charges regard Mr. DeNaples' alleged false testimony to Pennsylvania state officials. The OCC acted to suspend Mr. DeNaples pursuant to 12 U.S.C. §1818(g), which permits the federal banking agencies to suspend institution-affiliated parties from office and prohibit their participation in the affairs of other banks, when they are criminally charged with a state or federal offense involving breach of trust or dishonesty, and where the charge may threaten to impair public confidence in the at-issue depository institution.
Mr. DeNaples' suspension will remain in effect until the final disposition of the Commonwealth of Pennsylvania's criminal charges against him, or until terminated by the OCC. Pursuant to federal law, Mr. DeNaples may request an OCC hearing challenging his suspension.