A federal regulatory agency wants the former top executive of Waupaca’s First National Bank to reimburse the bank 1.6 million dollars, pay a 175,000 dollar fine, and be banned from the industry for alleged misconduct it says excessively benefited him at the expense and safety of the bank. According to the Milwaukee Journal Sentinel, a notice of charges was released Friday by the U.S. Office of the Comptroller of the Currency. In it the agency contends that Archie Overby, who was president, chief executive and a director of the bank from 1979 through May of this year, “recklesssly engaged in unsafe and unsound practices conducting the affairs of the bank, and/or breached his fiduciary duties to the bank.” The agency says Overby “acted with personal dishonesty” from 2010 through 2013, with his misconduct causing “more than minimal” loss to the bank. Overby faces a hearing before an administrative law judge in federal court. Director of Compliance for First National Bank, Steven Johnson, said the bank has fully cooperated in the investigation, and said the bank is not a defendant in the case.