Federal Reserve Board – Federal Reserve Board issues enforcement action with former employee of Bank of Eufaula and S N B Bancshares, Inc.
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June 18, 2026
Federal Reserve Board issues enforcement action against former Bank of Eufaula employee and SNB Bancshares, Inc.
For release at 3:00 pm EDT
The Federal Reserve Board announced Thursday that it had barred Thomas Engelbrecht from future involvement in the banking industry and fined him $125,000.
Engelbrecht is the former CEO of Bank of Eufaula and a former director of the bank and its holding company, SNB Bancshares, Inc. In his previous positions, Engelbrecht took advantage of his position to have the bank provide imprudent extensions of credit to his relative’s company and participated in the preparation of the minutes of the board meeting.
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Last updated: June 18, 2026
