WASHINGTON - The Federal Reserve Board has slapped cease-and-desist orders and a civil money penalties on Texas Coastal Bank and its top officials.

The Fed accused the Pasadena, Tex., bank of violating numerous rules on safety and soundness, consumer credit protection, and insider lending limits.

The central bank also said the group had agreed to purchase participations in loans originated by an affiliate without conducting a separate credit analysis. It said this practice violates federal and Texas law.

To settle the charges, the bank's principal shareholder, Charles R. Vickery Jr., agreed to pay a $35,000 civil penalty, the bank's former chairman, G. Warren Coles Jr., agreed to pay $25,000 and bank president B.F. Holcomb agreed to pay $15,000.

Bank directors Ben T. Harrison and Constance M. Vickery each agreed to pay $5,000.

The bank and its officers also agreed to increase the role of outside directors and said it would ensure that they make up a majority on the loan committee. The five respondents also all agreed not to serve on the loan committee.

The bank agreed not to conduct any business with Mr. Vickery, Mr. Coles, or their families without getting the Fed's prior approval.

Also, the bank agreed to file quarterly reports on its progress in complying with the cease-and-desist order. It said it will not pay any fines its top officials incurred. And, it agreed to correct all violations stemming from its purchase of participations in 1991 and 1992 from First National Bank of Bellaire, Tex.

None of the officers or directors admitted any wrongdoing.

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