United Central Bank, has been advised of its right to receive a notice of assessment of civil money penalty, findings of fact and conclusions of law, order to pay, and notice of hearing issued by the Federal Deposit Insurance Corporation detailing the violations for which a civil money penalty may be assessed against the Bank pursuant to section 102(f) of the Flood Disaster Protection Act of 1973, as amended, 42 U.S.C. § 4012a(f); section 8(i)(2) of the Federal Deposit Insurance Act, 12 U.S.C. § 1818(i)(2); and Part 339 of the FDIC Rules and Regulations, 12 C.F.R. Part 339, and has been further advised of its right to a hearing on the charges under section 102(f)(4) of the FDPA, 42 U.S.C. § 4012a(f)(4); section 8(i)(2)(H) of the FDI Act, 12 U.S.C. § 1818(i)(2)(H); and Part 308 of the FDIC Rules and Regulations, 12 C.F.R. Part 308. Having waived those rights, the Bank entered into a stipulation and consent to the issuance of an order to pay civil money penalty with a representative of the Legal Division of the FDIC, whereby solely for the purpose of this proceeding and without admitting or denying any violations, the Bank consented and agreed to pay a civil money penalty in the amount of $9,850.00 related to violations of the FDPA, the National Flood Insurance Act of 1968, as amended ("NFIA"), and Part 339. The FDIC has reason to believe that the Bank violated the FDPA, NFIA and Part 339, by failing to obtain flood insurance coverage on 2 loans secured by a building or mobile home that is located or to be located in a special flood hazard area, as identified by the Director of the Federal Emergency Management Agency, in which flood insurance is available under the NFIA, in violation of 42 U.S.C. § 4012a(b)(1) and 12 C.F.R. § 339.3(a); failing to maintain flood insurance coverage for the term of the loan on 4 designated loans, in violation of 42 U.S.C. § 4012a(b)(1) and 12 C.F.R. § 339.3(a); failing to obtain an adequate amount of flood insurance coverage on 17 designated loans, in violation of 42 U.S.C. § 4012a(b)(1) and 12 C.F.R. § 339.3(a); failing to notify the borrower of force placement of flood insurance on 3 designated loans, in violation of 42 U.S.C. § 4012a(e)(1) and 12 C.F.R. § 339.7; failing to purchase (force place) flood insurance on behalf of the borrower on 6 designated loans, in violation of 42 U.S.C. § 4012a(e)(2) and 12 C.F.R. § 339.7; and failing to notify the Director of FEMA of a change in the servicer of the loan on 39 designated loans, in violation of 42 U.S.C. § 4104a(b)(1) and 12 C.F.R. § 339.10(a).

United Central Bank Presents at IMN's Bank & Financial Institutions Special Asset Real Estate Workouts Conference, Dec-05-2011 through Dec-06-2011. Venue: Westin Park Central Dallas, 12720 Merit Drive, Dallas, TX 75251, United States. Presentation Date & Speakers: Dec-05-2011, Clayton Snyder, Vice President/Special Assets Officer. Dec-06-2011, Clayton Snyder, Vice President/Special Assets Officer.

Central Bancorp Inc. unit United Central Bank announced that it plans to close one of its branches in Plano, Texas, effective Nov. 19, 2011. All the operations from the branch to be closed will be transferred to a newer Plano branch. The move was necessary to improve efficiencies and manage the bank's growth.