Regulators have entered into a consent order with the banking subsidiary of Community Bank of South Florida that requires the Homestead, Fla., bank to raise capital ratios.

The order with the Federal Deposit Insurance Corp. and the Florida Office of Financial Regulation also requires the board to increase its participation in the $525 million-asset bank's affairs an hire an outside consultant to assess the qualifications of management.

The order took effect in February and was made public by the FDIC on Friday.

Community of Florida has lost roughly $10 million over the last three years, mostly on soured construction loans.

The enforcement order says that the bank must maintain a Tier 1 capital ratio of 8% and a total risk-based capital ratio of at least 12%. At Dec. 31, the bank's core capital ratio was 7.15% and its total risk-based capital ratio was 10.36%, according to data from the FDIC.

Robert Epling, president and chief executive of Community Bank of Florida, said the bank would meet the capital requirements for the first quarter because it recently raised $4.6 million through a shareholder rights offering, the South Florida Business Journal reported Friday.

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