Bank Suspends Crypto Activities

FDIC
Federal Deposit Insurance Corporation
1100 Walnut Street, Suite 2100, Kansas City, Missouri 64106

Division of Risk
Management Supervision
816-234-8000
Fax 816-234-8182

February 7, 2023

MEMORANDUM TO: Correspondence File

FROM: XXXXX
Case Manager

SUBJECT: Interim Bank Contact
XXXXXXXX

I spoke with prospective Pres XXXXX multiple times during the past year. Most notably, I worked with Pres XXXXX throughout 4Q22 on his endeavor to team up with 3rd parties to offer a crypto assets transaction services. This involved several conversations and information requests. Most recently, ARD Pankratz and I discussed our questions and concerns surrounding the readiness of the proposed interface provider on 12/16/22. As a result of this discussion, Pres XXXXX and the Board chose to suspend pursuit of crypto asset activity. This serves as the interim contact.