Order of Termination of Consent Order between Comptroller of the Currency and Goleta National Bank

Summary

The Office of the Comptroller of the Currency (OCC) notifies Goleta National Bank that its supervision is being transferred from the Special Supervision Division to the Western District Office, with ongoing oversight by the Southern California North Field Office. The OCC also formally terminates a previous Consent Order issued against the bank on October 28, 2002, as it is no longer deemed necessary for the protection of depositors, customers, or shareholders. This marks a positive milestone for the bank, indicating improved conditions and regulatory compliance.

EX-10.17 3 doc2.txt EXHIBIT 10.17 - -------------------------------------------------------------------------------- Comptroller of the Currency Administrator of National Banks - -------------------------------------------------------------------------------- Special Supervision Division 250 E Street, S.W. Washington, DC 20219 October 21, 2003 VIA FACSIMILE & OVERNIGHT MAIL Board of Directors Goleta National Bank 445 Pine Street Goleta, CA 93117 RE: TRANSFER OF SUPERVISION / TERMINATION OF CONSENT ORDER Dear Members of the Board: This letter is to notify you of the transfer of supervision of your bank from the Special Supervision Division to the Western District Office. Ongoing supervisory activities will continue to be performed by the Southern California North Field Office. In addition to this transfer of supervision, we terminated the Consent Order dated October 28, 2003. Enclosed is the Order of Termination for your records. Congratulations on reaching this milestone. We wish you continued success in improving your Bank's condition. If you have questions, please contact National Bank Examiner Kathy Gerardy or myself at ###-###-####. Sincerely, /s/ Ronald G. Schneck Ronald G. Schneck Director for Special Supervision Enclosure UNITED STATES OF AMERICA DEPARTMENT OF THE TREASURY OFFICE OF THE COMPTROLLER OF THE CURRENCY - ------------------ In the Matter of: Goleta National Bank Goleta, California - ------------------ ORDER TERMINATING THE CONSENT ORDER WHEREAS, in an effort to protect the depositors, other customers and shareholders of Goleta National Bank, Goleta, California (Bank), and to ensure the Bank's safe and sound operation, the Bank, by and through its duly elected and acting Board of Directors, consented to the issuance of a Consent Order (Order) dated October 28, 2002 against the Bank by the Comptroller of the Currency of the United States of America (Comptroller); and WHEREAS, the Comptroller believes that the protection of the depositors, other customers and shareholders of the Bank as well as its safe and sound operation do not require the continued existence of said Order, NOW, THEREFORE, the Comptroller directs that the Order dated October 28, 2002 be, and it hereby is, TERMINATED. IN TESTIMONY WHEREOF, the undersigned, designated by the Comptroller as his/her authorized representative, has hereunto set his/her hand. /s/Ronald G. Schneck 10/21/03 -------- Ronald G. Schneck Date Director for Special Supervision