AMARILLO, TX (KFDA) - The Federal Deposit Insurance Corporation has posted a final ruling in the case of Campbell Burgess, former President and CEO of Herring Bank.
Federal Bank Regulators ruled today that Campbell Burgess must leave the banking industry and pay a civil penalty of $200,000.
Burgess has already reimbursed the bank more than $200,000 after investigators began asking questions.
The probe began in 2014 and included a seven-day hearing in Dallas.
The ruling said, "His use of bank resources for personal purposes was not merely reckless, it was intentional and deliberate."
He not only gave his girlfriend a credit card paid for by the bank, but also a $1,600 diamond bracelet purchased with bank money.
Burgess argued the FDIC was biased against him, and the bank wasn't harmed because he reimbursed all of the money.