Habersham Bancorp in Cornelia, Ga., said Monday that its bank unit has entered into a cease-and-desist order with the Department of Banking and Finance.

In a filing with the Securities and Exchange Commission, the $495 million-asset Habersham said that the order is based on findings from the department during a September exam and that it has taken steps to address the concerns.

Under the order, the bank must prepare and submit written plans to the regulators for maintaining sufficient capital, improving the bank's liquidity position, and reviewing the bank's allowance for loan and lease losses, among other things.

While the order remains in place, Habersham may not pay cash dividends or bonuses without the prior written consent of the regulators.

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