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The Federal Deposit Insurance Corp. has taken enforcement actions against eight banks and freed 12 others from prior orders, according to a series of orders released Friday.
May 31 -
The Federal Deposit Insurance Corp. took enforcement actions against six banks last month that tied to their capital, compliance and financial condition, according to a series of orders released Friday.
April 26 -
The Federal Deposit Insurance Corp. took enforcement actions against four banks last month tied to inadequate capital, compliance shortcomings and other matters, according to a series of orders released Friday.
April 1
The Federal Deposit Insurance Corp. in May issued enforcement orders against eight banks and freed nine others from prior orders as part of a series of actions released Friday.
The most severe order was a prompt corrective action against Trust Company Bank in Mason, Tenn., which was given 30 days to become adequately capitalized. The $34 million-asset bank had a Tier 1 leverage ratio of 2.12% and a total risk-based capital of 3.67% as of March 31, according to the FDIC.
The FDIC gave Bay Cities Bank in Tampa, Fla., 30 days to develop a program to educate the company's directors about U.S. anti-money laundering laws and three months to develop a plan for compliance with the Bank Secrecy Act and rules governing customer identification. The $534 million-asset bank has promised to maintain a Tier 1 leverage ratio of at least 9% and a total risk-based capital ratio of at least 13% and to charge off loans examiners last year flagged as doubtful.
HomeStar Bank in Manteno, Ill., agreed to maintain a Tier 1 capital ratio of at least 8% and a total risk-based capital ratio of at least 12%. The $353 million-asset bank also agreed to reduce its exposure to loans in excess of $300,000 that examiners have flagged as troubled and to detail financial plans and budgets through the end of next year.
The FDIC gave First State Bank in Swanville, Minn., 10 days to charge off loans that examiners have flagged as losses. The $30 million-asset bank also pledged to maintain a Tier 1 leverage ratio of at least 8% and a total risk-based capital ratio of at least 11%.
VistaBank in Aiken, S.C., had 90 days to retain qualified management and to attain Tier 1 capital of at least 8% and total risk-based capital of at least 10%. The $190 million-asset bank had 60 days to detail in writing plans to reduce troubled loans that have a balance of $250,000 or more, to revamp its lending policies and to detail plans for reducing its exposure to commercial real estate.
Oswego Community Bank in Illinois pledged to maintain Tier 1 capital of at least 9% and total risk-based capital of at least 13% and to refrain from lending to borrowers whose loans examiners have flagged. The FDIC also gave the $194 million-asset bank 60 days to revamp its policies governing approval and reimbursement of expenses incurred by the bank's officers and directors.
The FDIC gave SunSouth Bank in Dothan, Ala., two months to revise its lending policies and 90 days to retain qualified management. The $178 million-asset bank agreed to maintain a Tier 1 leverage ratio of at least 9% and a total risk-based capital ratio of at least 12%, and to detail in writing its annual budget.
The Talbot Bank in Easton, Md., promised to maintain Tier 1 capital of at least 8% and total risk-based capital of at least 12%. The $634 million-asset bank had 60 days to reduce its exposure to loans in excess of $750,000 that examiners have flagged and to revamp its method for calculating loan losses.
The FDIC terminated enforcement actions against Park State Bank in Duluth, Minn.; Pacific Trust Bank in Cerritos, Calif.; Roxbury Bank in Kansas; Lakeview Bank in Minn.; Parkway Bank in Lenoir, N.C.; First Sound Bank in Seattle; Douglas County Bank in Douglasville, Ga.; Peoples Bank & Trust Company in Owenton, Ky.; and Heritage Bank of North Florida in Orange Park. It also amended actions against Metrobank in Berwyn, Ill.; Archer Bank in Chicago; Crown Bank in Ocean City, N.J.; Plaza Bank in Northridge, Ill.; and North Community Bank in Chicago.
