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WHEREAS, the Banking Commissioner (the “Commissioner”) is charged with the administration of Title 36a of the Connecticut General Statutes, the Banking Laws of Connecticut (“Connecticut Banking Laws”);
WHEREAS, the Commissioner, through the Financial Institutions Division of the Department of Banking (“Division”), conducted an investigation pursuant to Section 36a-17 of the Connecticut General Statutes into the activities of Janice L. Zdun (“Zdun”) to determine whether she had violated, was violating or was about to violate any provision of the Connecticut Banking Laws;

WHEREAS, at all times relevant to this matter, Zdun, was an employee of Simsbury Bank & Trust Company (“Bank”), a Connecticut bank, and, as such, was a “related person within the meaning
of Section 36a-53(a)(1) of the Connecticut General Statutes;
WHEREAS, as a result of such investigation, the Commissioner finds that:
(1) Zdun engaged in unsafe and unsound practices and used her position in a manner contrary to the interest of the Bank and its depositors; and
(2) Such unsafe and unsound practices and use of her position caused financial loss to the Bank.
WHEREAS, Section 36a-53 of the Connecticut General statutes authorizes the Commissioner to take enforcement action against a related person who has engaged in any unsafe or unsound practice or used such person’s position in a manner contrary to the interest of any bank or its depositors, including removal from office and imposition of a civil penalty;
WHEREAS, Zdun solely for the purpose of obviating the need for formal administrative proceedings based upon the allegations contained herein and without admitting or denying any such allegations agrees to the issuance of this Consent Order;

WHEREAS, Zdun, through her execution of this Consent Order, voluntarily waives the right to be afforded notice and an opportunity for a hearing and seek judicial review of, or otherwise challenge or contest the matters described herein, including the validity of this Consent Order.
WHEREAS, an administrative proceeding initiated under Section 36a-53 would constitute a “contested case” within the meaning of Section 4 166(2) of the General Statutes of Connecticut;
WHEREAS, Section 4-177(c) of the General Statutes of Connecticut and Section 36a-1-55(a) of the Regulations of Connecticut State Agencies provide that a contested case may be resolved by consent order, unless precluded by law.
NOW THEREFORE, the Commissioner hereby orders that:
  1. Zdun may not hold any position as a director, officer, employee or independent contractor with any bank, Connecticut credit union or federal credit union, as defined in Section 36a-2 of the Connecticut General Statutes, or as licensee or registrant under Titles 36a or 36b or holding company that holds a subsidiary that is a bank, as defined in Section 36a-2, while this order is in effect, without the consent of the Commissioner;
  2. Issuance of this Consent Order by the Commissioner is without prejudice to the right of the Commissioner to take enforcement action against Zdun if the Commissioner determines that compliance with the terms hereof is not being observed.
This Consent Order shall become final when issued.

So ordered at Hartford, Connecticut           ____________/s/_____________
this 7th day of July 2010.                         Howard F. Pitkin
                                                           Banking Commissioner

        I, Janice L. Zdun, while neither admitting nor denying the findings heretofore made, have read the foregoing Consent Order; I know and fully understand its contents; I agree freely and without threat or coercion of any kind to comply with the terms and conditions stated herein; and I consent to the issuance of this Consent Order, expressly waiving any right to a hearing on the matters described herein. 
Janice L. Zdun

State of:  Connecticut
County of:  Hartford

        On this the 30th day of June 2010, before me, Richard R. Brown, the undersigned officer, personally appeared Janice L. Zdun, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instrument and acknowledged that she executed the same for the purposes therein contained.

        In witness whereof I hereunto set my hand.
Commissioner of the Superior Court
Richard R. Brown, Esq.