BAY COUNTY, Florida (WMBB) — Two people are facing federal indictments for their role in reportedly embezzling millions of dollars from a local bank.
According to an arrest affidavit, from October 2006 to August 2019, Jennifer Woods worked at Centennial Bank in Panama City in a variety of positions, including as commercial loan officer.
During that time Woods allegedly began to issue unauthorized loans to Jeffery Cannon while receiving a commission for some of those loans.
Centennial Bank discovered the loans in July 2019. Woods resigned August 2, 2019.
It is estimated Woods and Cannon embezzled over $3,490,474 from the bank.