Another Swiss private bank has reached a deal with the DoJ to avoid criminal prosecution over undeclared US-related accounts.

Banque Bonhôte & Cie has signed a non-prosecution agreement in accordance with the US Department of Justice's Swiss Bank Programme. The bank will pay a $624,000 penalty.

The programme, evolved in 2013, saw four Swiss banks sign similar agreements last week. These were Luzerner Kantonalbank, Habib Bank AG Zurich, Banque Heritage, and Hyposwiss Private Bank Genève, who will collectively pay penalties of over $25 million.

Since August 2008, Banque Bonhôte held and managed 63 US-related accounts, including both declared and undeclared accounts, with total assets under management of $88.7 million.

The bank, which was established in 1815 in the Swiss city of Neuchâtel, helped some US clients open and maintain undeclared accounts in Switzerland, and conceal assets and income from the Internal Revenue Service. It also opened accounts for US taxpayers who had left UBS or Credit Suisse when these banks were being investigated by the department.

In addition, the bank referred clients to Bonhôte Trust, a Swiss fiduciary and trust advisory firm it acquired in 2001. Bonhôte Trust provided assistance in setting up entities such as offshore companies and foundations, including sham entities, for clients including US taxpayers.

Under the NPA, Banque Bonhôte agrees to cooperate in any related criminal or civil proceedings and demonstrate its implementation of controls to stop misconduct involving undeclared US accounts.