By Vicki Needham - 08/27/13 07:05 PM EDT
Mainstreet Bank's holding company, Calvert Financial, received more than $1 million in funds through the Treasury Department's TARP plan in January 2009.
"At a time when many other Americans were losing their homes, he was siphoning off public funds to buy a luxury vacation condo in Florida," said Tammy Dickinson, U.S. attorney for the Western District of Missouri.
Woods waived his right to a grand jury and pleaded guilty before U.S. Magistrate Judge Matt Whitworth to a federal information that charges him with making a false writing.
Under the terms of his plea agreement, Woods cannot be involved in the banking industry.