A former officer of First National Bank of Layton has pleaded guilty to a one-count federal indictment charging him with defrauding the bank of $112,727.

Dennis James Brown entered the plea Monday before U.S. District Senior Judge Bruce Jenkins, who scheduled sentencing for Jan. 4.Brown, 47, of Layton, faces a maximum sentence of 20 years imprisonment and a fine of $1 million.

Before entering the plea, Brown admitted he defrauded the bank while working as a senior vice president and loan officer from May 1987 to May 1990.

According to the indictment handed up in August, Brown misappropriated $112,727 in bank money for his own use by using a phony escrow account and two bogus loans.

Assistant U.S. Attorney Tena Campbell said Brown opened a savings account in the name of Summerfield Escrow and that the account included money from loans that previously had been charged off as non-collectible.

Campbell said that from March 1987 to April 1990, Brown issued cashier's checks made out to himself with money from the account in an amount totaling $95,892. She said he used the money to purchase snowmobiles, make house payments, pay insurance premiums and finance other debts.

On Dec. 11, 1987, Brown obtained a $9,880 loan from the bank using the fictitious name Howard D. Martin, and in August 1988 he obtained a second fraudulent loan for $6,955 under the name Richard D. Brown, Campbell said.

Brown was charged following an FBI investigation during which he admitted to the bank's president and to an FBI agent that he had fraudulently obtained money from the bank.

Brown remains free on his own recognizance.