Goleta (Calif.) National Bank said last week that regulators have deemed the $246 million-asset bank adequately capitalized.

The OCC had recently issued a "prompt corrective action" order against Goleta, a subsidiary of Community West Bancshares, claiming that the bank had miscalculated its Tier 1 capital. The OCC said that two loan securitizations worth $203 million completed in the last year had left the bank "significantly undercapitalized."

To correct the situation, the board of directors quickly provided $11.2 million to the bank in equity and debt, the bank said. -- Matt Andrejczak

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