A bank vice president who stole $1.3 million from his western Nebraska employer has been sentenced to more than three years in prison, authorities said Monday.
Matthew Monheiser, former executive and branch manager at Sidney-based Points West Community Bank, was sentenced to 42 months, according to the U.S. Attorney's Office in Omaha.
Monheiser faced the prospect of as many as 30 years in prison.
He also was ordered to pay full restitution. The U.S. Attorney's Office said he has repaid $500,000. In addition, he is barred from working again for financial institutions insured by the Federal Deposit Insurance Corp.
The embezzlement was accomplished, the U.S. Attorney's Office said, by stealing $82,000 from the vaults and by creating loan proceeds and cashier's checks on existing accounts and pocketing the proceeds.
Monheiser, the authorities said, began working for First National Bank in Sidney in 2001, before it became Points West Community Bank. The 38-year-old was also ordered to undergo five years of court supervision after release from prison.
The case was investigated by the FBI. Monheiser pleaded guilty in the case in April in U.S. District Court in Lincoln. He said at the time he was employed at a wrecking company in Sidney.
Points West Community Bank operates nine branches and has $350 million of assets, according to the FDIC.