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The court papers state the judge "ordered the defendant's continued sentencing hearing will occur on July 21."

On that date, supplemental briefs regarding Yaroch's conduct, the amount of the loss resulting from his conduct and his role and responsibilities at the bank will be heard.

On December 21, Yaroch entered a plea of nolo contendere -- no contest -- to a single count of the 82 counts of willful misapplication of moneys, funds or credits by a loan officer.

The court papers further stated the Federal Deposit Insurance Corporation (FDIC) recommend that Yaroch be removed from his role as a loan officer and barred from serving in such a role in the future.

For the sentencing, Brunson said Yaroch could receive straight probation all the way up to 41 months in prison.

In the matter of restitution, the court papers said, "It's set at the full amount of each victim's losses as determined by the court and without consideration of the economic circumstances of the defendant."

The fact Yaroch entered into a prior settlement with the victim (the bank) won't prevent the court from making a separate restitution order as part of Yaroch's punishment.

A plea of no contest is not an admission of guilt but is treated as one for sentencing purposes.