Former president of failed Texas bank gets prison

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Associated Press

Posted on April 29, 2011 at 12:30 PM

SAN ANTONIO (AP) — The former head of the only Texas bank to fail last year has been sentenced to prison for falsifying the books.

A federal judge in San Antonio on Thursday sentenced former La Coste National Bank president Jodi P. Gwyn to five years in prison. Gwyn also must make $8.3 million in restitution.

Gwyn pleaded guilty to making false entries in bank documents in 2008 in order to deceive examiners about bad loans.

Federal regulators closed the bank in February 2010.

The assets of the nearly century old bank in La Coste, a community of about 1,400, located 20 miles southwest of San Antonio, were later acquired by Community National Bank of Hondo.

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