Whitmore

MEMORANDUM **

Ralph E. Whitmore, Jr. (“Whitmore”), Chief Executive Officer of the former Alaska Statebank, appeals his jury conviction of seven counts of bank fraud, 13 counts of making false entries in book and records, and four counts of misapplication of bank funds. Whitmore alleges that the evidence was insufficient to support his conviction. The United States cross-appeals the sentence imposed on Whitmore, arguing that *313 the district court erred in sentencing him by improperly departing downward from the range imposed under the United States Sentencing Guidelines (“U.S.S.G.”). In a companion case, H. Derrell Smith (“Smith”), former President of Alaska Statebank, appeals his jury conviction on one count of misapplication of bank funds and one count of making false statements regarding a loan. We have jurisdiction under 28 U.S.C. § 1291 , and we affirm the convictions and sentences of both Whit-more and Smith.

I. BACKGROUND

Alaska Statebank (“ASB”) was a state chartered and federally insured bank headquartered in Anchorage, Alaska. When ASB closed in 1989, the Federal Deposit Insurance Company (“FDIC”) took over as receiver and soon thereafter began an investigation into…