Four of the City Commissioners (Commissioner Mark Alcott was not in attendance) and U.S. Bank representatives met this morning in a special closed session that lasted over five hours.
They discussed eight checks that Cooper diverted from the Kentucky State Treasurer for his personal use totaling $100,000.
As part of the agreement the bank admits no liability and will continue to vigorously deny any wrongdoing, and the city will no longer hold the bank accountable in the matter.
Craig Browning, regional president of U.S. Bank, says the bank is doing other things to clean the slate.
"The bank agreed to actually reimburse and credit the city account for those eight checks. In addition to that, we actually offered to be the lead corporate sponsors for the Heritage Trails project."
Bowling Green Mayor Elaine Walker says while these two entities have reached an amicable agreement, fallout from the Davis Cooper case is not over.
"Basically this chapter of the Davis Cooper case is closed. We are still pursuing other avenues. We are in litigation with his ex-wife and his children."
Cooper was sentenced to eight-years in prison for embezzling millions of dollars from the city for more than twenty years.
The former Chief Financial Officer admitted in 2005 to setting up two different accounts back in the 1980s.
He also admitted to stealing insurance premium tax checks from the office vaults after hours.
The city of Bowling Green is currently suing Marcia Cooper Cox, Cooper's ex-wife, for over $700,000. The money was either used to buy her things or checks made out to her.
To view Bowling Green and U.S. Bank's Mediation Agreement click here.