The Federal Reserve Board has terminated an enforcement action against Farmers State Bank in Victor, Mont.
The $315 million-asset bank had been operating under the order since November 2010. The order had required the bank to provide written plans for strengthening its practices for managing credit risk and administering loans, shoring up capital, and improving its earnings and financial condition.
The enforcement action had also required Farmers State to assess the quality of its loan portfolio, improve its position with respect to troubled loans in excess of $250,000, charge off assets that examiners classified as lost, and revise its accounting for loan losses.
The Fed terminated the order on Dec. 19 and released its decision on Thursday.
