Fed Lifts Cease-and-Desist Order Against Central Federal in Ohio

By Amilda Dymi May 20, 2014, 2:30 p.m. EDT 1 Min Read

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The Federal Reserve Board has terminated a cease-and-desist order against Central Federal (CFBK) in Worthington, Ohio.

The order was issued in May 2011. Central's current management team joined the $260 million-asset company the following year. Since then, Chief Executive Timothy O'Dell, President Thad Perry and Chairman Robert Hoeweler were able to work with a standby investor group to recapitalize the company.

"As we move into 2014 our loan and business pipelines remain strong," O'Dell said in a press release.

CFBank is one of a growing number of banks that recently have received good news from the Fed and the Federal Deposit Insurance Corp.

Amilda Dymi

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