OCC to Hold Virtual Hearing on Charges Against Saul Ortega and David Rogers; Agency Seeks Prohibition Orders and Civil Money Penalties — 2022-01-25

WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced a public virtual hearing before an Administrative Law Judge beginning Monday, January 31, 2022. The OCC will litigate enforcement actions against two individuals formerly associated with First National Bank, Edinburg, Texas (closed): Saul Ortega, former Chief Financial Officer, Director, President, Chief Executive Officer, and Chairman of the Board, and David Rogers, Jr., former Chairman of the Board. The OCC has charged Messrs. Ortega and Rogers with engaging in violations of law and OCC orders, unsafe or unsound banking practices, and breaches of fiduciary duty regarding bank loans issued to finance a capital raise, bank loans issued to finance sales of the bank’s other real estate owned, and the bank’s accrual of interest on loans in non-accrual status. The OCC further alleges that Mr.