Ex-Barboursville Bank Exec. Faces Fraud Charges

BARBOURSVILLE, W.Va. (WSAZ/AP) - A former vice president of Barboursville bank has been indicted on federal bank fraud charges.

Last month, a U.S. District Court grand jury in Charleston indicted Jackie D. Cantley, 31, on three counts of bank fraud and two counts of misappropriation of bank funds.

Cantley worked at First State Bank in Barboursville from May 2003 until September 2012. At the time of the charges, he was a vice president at the bank.

The federal indictment says Cantley approved loans to borrowers who didn't qualify and forged signatures on loan-related documents.

The indictment says Cantley resigned from the bank after it began an internal review of loans he'd authorized.

First State Bank president and CEO Sam Vallandingham says that no customer funds were involved.

Cantley is scheduled to be arraigned Wednesday in U.S. District Court in Huntington.

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