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The Federal Deposit Insurance Corp. on Friday released its list of enforcement actions from September, including a consent order that played a role in derailing two planned acquisitions.
October 31 -
Theories abound. So do bankers' frustrations. And regulators like FinCEN Director Jennifer Shasky Calvery promise the toughened stance is here to stay.
July 28 -
The Federal Deposit Insurance Corp. is looking to ban a former Tennessee banker from the industry following his institution's 2012 failure.
May 30
The Federal Deposit Insurance Corp.
The FDIC ordered Heritage Oaks Bank in Paso Robles, Calif., to establish a compliance system for Bank Secrecy Act and anti-money-laundering regulations. The $1.7 billion-asset bank was further ordered to conduct an annual assessment of BSA-related risks.
International Finance Bank in Miami was directed to tighten its anti-money-laundering controls, too. The FDIC is requiring the $345 million-asset bank to increase its board supervision of BSA compliance activities and to review certain high-risk accounts.
Elkhart State Bank in Elkhart, Texas, was ordered to maintain a Tier 1 leverage capital ratio of at least 9% and a risk-based capital ratio of at least 16%. Moreover, the $53 million-asset bank must review loan accounts exceeding $25,000 and charge off assets designated as a loss.
The State Bank of Burnettsville in Indiana has to beef up capital levels, too. The $48 million-asset bank is being required to maintain a Tier 1 capital ratio of 9% and a total risk-based capital ratio of 12%. Additionally, the FDIC ordered the $8 million-asset bank to reduce its risk position in substandard assets above $100,000, and to implement a loan-grading system.
Consent orders were terminated for the following banks: Grant County Deposit Bank in Williamstown, Ky.; World's Foremost Bank in Sidney, Neb.; Texas Savings Bank in Snyder, Texas; Bank of Palatine in Palatine, Ill.; Highlands Independent Bank in Sebring, Fla.; Community First Bank & Trust in Columbia, Tenn.; Bank of Wrightsville in Wrightsville, Ga.; and First Home Bank in Seminole, Fla.
