Friday, March 21, 2014

Former CommunityOne VP enters into consent order

The Office of the Comptroller of the Currency made public Friday a consent order with a former CommunityOne Bank vice president that alleges he lent to customers without authorization.

Vincent F. Bateman, who was a vice president of the bank between 2003 and 2011, did not admit or deny wrongdoing by signing the consent order.

In the order, the OCC says Bateman extended credit to customers without the proper approval and in a way that violated the bank's policies, and says he made "false statements" to the bank about the credit. The order also says Bateman "misapplied the assets of bank customers" to cover up his actions.

Bateman left the bank the month before the parent companies of CommunityOne and Bank of Granite were pushed together in a merger and $310 million recapitalization that brought both banks from the brink of failure.

Charlotte-based CommunityOne did not respond to a phone call for comment. Bateman, reached at his home in Laurinburg, declined to comment.

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