NEWPORT BEACH, Calif. - CommerceBank has consented to Federal Deposit Insurance Corp. issuance of an order restricting its operations.

The order would require the CommerceBancorp subsidiary to retain qualified management, maintain Tier 1 capital equal to 6.5% of assets, and reduce classified assets to specified levels over the next year.

CommerceBank, which has about $300 million in assets, said it had a 6.69% Tier 1 capital ratio on March 31.

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