A Richmond Hill banker with the failed First National Bank was indicted Friday by a federal grand jury in Savannah on charges of defrauding First National Bank and other banks out of millions of dollars.
Jeffrey Allen Farrell, 44, who served as the city president and commercial loan officer of the Richmond Hill branch, was included in a 35-count indictment that charges five other bank officers and former president and CEO Heys Edward McMath III, according to a press release from U.S. Attorney Edward J. Tarver.
The long-running defrauding scheme accused in the indictment allegedly contributed to the failure of First National Bank in 2010. The bank’s failure is expected to cost the FDIC deposit-insurance fund more than $90 million, according to the release.
Farrell was charged with conspiracy, bank fraud, false statements to influence a bank and false entries made in bank records, while McMath was charged with conspiracy, bank fraud, misapplication of bank funds and false statements to influence a bank.
Other charges are as follows:
• Stephen Michael Little, 65, executive vice president and CFO, was charged with conspiracy and bank fraud.
• Robert Wilson Dailey, 51, city president and senior lending officer, was charged with conspiracy, bank fraud and false entries made in bank records.
• Jay Patrick Gardner, 62, a vice president and the chief credit officer, was charged with conspiracy and bank fraud.
• Isaac Jefferson Mulling, 53, a senior vice president and commercial loan officer, was charged with conspiracy, bank fraud, false statements to influence a bank and false entries made in bank records.  
• Alan Robert Fleming, 36, city president of the Tybee Island branch and a commercial loan officer, was charged with conspiracy, bank fraud, misapplication of bank funds, false statements to influence a bank and false entries made in bank records.
First National Bank was the first in the Savannah metro area to fail. On a Friday in June 2010, federal agents showed up to close local branches. But the following Monday, those branches reopened as part of The Savannah Bank, the parent company of Bryan Bank and Trust.