OCC Takes Action Against Missouri Bank

By Chris Cumming June 24, 2013, 10:46 a.m. EDT 1 Min Read

Community banking

MetroBank in Houston Freed from OCC Order

The Office of the Comptroller of the Currency has lifted a regulatory order that had been imposed on a unit of MetroCorp Bancshares in Houston.

By Chris Cumming

June 13
Consumer banking

OCC's April Enforcement Actions Hit 11 Banks

The Office of the Comptroller of the Currency took regulatory action against 11 financial institutions and terminated orders against five others in April, the agency said Friday.

By Chris Cumming

May 17

The Office of the Comptroller of the Currency has taken action against a Missouri bank and freed four others from regulatory actions.

The OCC announced a cease-and-desist order with First National Bank in Camdenton, Mo., on Friday. The order, which replaces a 2010 action, requires the $262 million-asset bank to create a compliance committee, fix deficiencies in its core-processing system and submit plans of compliance with consumer-protection laws and the Bank Secrecy Act.

The order also requires First National to hold Tier 1 capital of at least 10% and total risk-based capital of at least 13%. The bank's ratios were 16.09% and 36.70%, respectively, on April 24, according to the Federal Deposit Insurance Corp.

The OCC also announced the termination of enforcement actions with four lenders: Fidelity National Bank in West Memphis, Ark.; Lake City Federal Bank in Lake City, Minn.; Metropolitan National Bank in New York, N.Y.; and Herald National Bank in New York, N.Y.

Chris Cumming