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Roughly 20 banks still have capital from the crisis-era program. Most are way behind on dividend payments and have limited options to raise capital to repay the Treasury Department.
August 20 -
Cecil Bancorp (CECB) in Elkton, Md., plans to deregister its common stock from the OTC Bulletin Board and stop reporting to the Securities and Exchange Commission.
January 2 -
The $969 million-asset company said in a press release Thursday that the Office of the Comptroller of the Currency had lifted a September 2010 consent order against First National Community Bank.
March 26
Cecil Bancorp in Elkton, Md., has been ordered by federal regulators to raise more capital or sell itself.
The Federal Reserve Board hit the $323 million-asset Cecil with a
The Fed also banned Cecil from accepting new deposits, or renewing time deposits at a rate above prevailing rates, without prior regulatory approval. The Fed also banned bonus payments or salary increases for executives.
Cecil, which has nine branches in northeastern Maryland, lose $3.2 million in the second quarter. Its Tier 1 capital ratio was 5.02% at June 30.
Cecil is one of 21 banks that remain in the Treasury Department's
Cecil still remains subject to a June 2010 written agreement from the Fed and the Maryland Department of Financial Regulation.
