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The Federal Deposit Insurance Corp. in May issued enforcement orders against eight banks and freed 14 others from prior orders as part of a series of actions released Friday.
June 28 -
The Federal Deposit Insurance Corp. took seven enforcement actions and freed 13 banks from orders in June, according to a list of regulatory actions released Friday.
July 26 -
State and federal regulators appear to be orchestrating a series of actions to force financial institutions and third-party payment processors to stop doing business with certain online consumer installment lenders.
August 22
The Federal Deposit Insurance Corp. took regulatory actions against nine banks and freed 22 banks from orders in July, according to an
The $108.9 million-asset California Pacific Bank in San Francisco was hit with a cease-and-desist order for violating the Bank Secrecy Act.
Regulators issued consent orders for eight banks. The $563.8 million-asset Valley Bank in Moline, Ill., was ordered to conduct a full audit of its books and records as well as appoint a president and chief executive.
The order against the $176.6 million-asset United International Bank in Flushing, N.Y., included stipulations that it reduce loan losses and maintain a minimum 10% Tier 1 leverage ratio and 15% total risk-based capital.
The $124.6 million-asset Hantz Bank in Southfield, Mich., was ordered to update and monitor its compliance policies and submit to a third-party compliance audit.
U.S. Metro Bank in Garden Grove, Calif., with $81.3 million in assets, is required to develop an action plan to either increase capital by at least $12 million or sell, merge or liquidate the bank.
The $70.8 million-asset State Bank of Taunton in Taunton, Minn., was ordered to review management and reduce bad loans and loan losses.
Allendale County Bank in Fairfax, S.C., which has $59.5 million in assets, must revise its lending policy and maintain at least an 8% Tier 1 leverage ratio and 10% total risk-based capital.
Regulators demanded that the $47.9 million-asset Citizens Bank of Chatsworth in Chatsworth, Ill., review management, reduce loan losses and develop a profit plan.
The $35.6 million-asset Trust Company Bank in Mason, Tenn., is required to add more independent directors to its board, establish a non-employee compliance committee and increase capital.
The FDIC terminated actions against 22 banks, including Highland Bank in St. Michael, Minn.; Vermont State Bank in Vermont, Ill.; Cambridge State Bank in Cambridge, Minn.; Metropolitan Bank in Oakland, Calif.; Union Bank in Marksville, La.; Central Arizona Bank in Casa Grande, Ariz.; Bank of Valdosta in Valdosta, Ga.; Elysian Bank in Elysian, Minn.; First Southwest Bank in Alamosa, Colo.; Inland Bank and Trust in Oak Brook, Ill.; Community Trust & Banking Company in Ooltewah, Tenn.; SouthCrest Bank in Thomaston, Ga.; Premier Bank in Tallahassee, Fla.; People's Exchange Bank in Stanton, Ky.; River City Bank in Louisville, Ky.; Community Bank of Oak Park River Forest in Oak Park, Ill.; Mid-Wisconsin Bank in Medford, Wis.; Signature Bank in Bad Axe, Mich.; The Bank of Harlan in Harlan, Ky.; The Bank of Southern Connecticut in New Haven, Conn.; Covenant Bank in Chicago; and Pisgah Community Bank in Asheville, N.C.
A total of eight banks were fined by the FDIC. The most several penalties were a $135,050 fine against Synovus Bank in Columbus, Ga.; a $100,000 fine for First Federal Savings Bank of Elizabethtown, Ky.; and a $70,000 fine against German American Bancorp in Jasper, Ind.
Also facing fines were The Pitney Bowes Bank in Salt Lake City; First State Bank in Cranford, N.J.; Collin Bank in Plano, Tex.; BankTrust Financial in Henderson, Ky.; and Inland Northwest Bank in Spokane, Wash.
