Former bank CEO maintains innocence

Published 12:00 am Wednesday, June 6, 2007

The last CEO of the former First National Bank of Shelby County maintains his innocence, nearly two months after paying $150,000 to settle a long-running investigation by federal regulators.

Former FNB Chairman and CEO William T. Harrison said he agreed to pay the fine ordered by the Office of the Comptroller of the Currency to avoid higher legal costs relating to the case.

&8220;We&8217;re still saying we didn&8217;t do anything wrong,&8221; Harrison said of himself and his two sisters, former President Helen Harrison Phillips and former Vice President Carol Harrison Smith.

OCC enforcement actions against FNB and its former executives go back as far as 2000. Allegations from the federal regulators have included &8220;unsafe or unsound bank practices,&8221; violations of law and conflicts of interest.

None of the three former executives admitted or denied wrongdoing as part of their settlements, which totaled $325,000 in civil money penalties