Fed Terminates Written Agreements with Two Banks

The Federal Reserve Board has lifted regulatory actions against Huntington Bancshares in Texas and Buckeye Bancshares in Ohio.

The Fed lifted its 2011 written agreement with the $232 million-asset Huntington on June 27, it said Tuesday. The order barred Huntington from paying dividends or taking on debt without the Fed's permission. The company was also required to issue periodic cash-flow reports.

The Federal Deposit Insurance Corp. lifted a similar enforcement action with Huntington in April. The company's unit, Huntington State Bank, had a Tier 1 leverage ratio of 9.54% and total risk-based capital of 15.95% as of May 7, according to the FDIC. It has nine Texas branches.

The 2009 written agreement between the Fed and Lorain, Ohio-based Buckeye was lifted on July 2, the regulator said. The agreement required the $150 million-asset company to improve its lending oversight, take steps to improve asset quality and resolve past-due loans, among other requirements.

Buckeye's unit, Buckeye Community Bank, had a Tier 1 leverage ratio of 9.91% and total risk-based capital of 14.50% as of May 1, according to the FDIC.