The Federal Deposit Insurance Corp. took regulatory actions against nine banks and freed 22 banks from orders in July, according to an enforcement update released Friday.
The $108.9 million-asset California Pacific Bank in San Francisco was hit with a cease-and-desist order for violating the Bank Secrecy Act.
Regulators issued consent orders for eight banks. The $563.8 million-asset Valley Bank in Moline, Ill., was ordered to conduct a full audit of its books and records as well as appoint a president and chief executive.
The order against the $176.6 million-asset United International Bank in Flushing, N.Y., included stipulations that it reduce loan losses and maintain a minimum 10% Tier 1 leverage ratio and 15% total risk-based capital.
The $124.6 million-asset Hantz Bank in Southfield, Mich., was ordered to update and monitor its compliance policies and submit to a third-party compliance audit.
U.S. Metro Bank in Garden Grove, Calif., with $81.3 million in assets, is required to develop an action plan to either increase capital by at least $12 million or sell, merge or liquidate the bank.
The $70.8 million-asset State Bank of Taunton in Taunton, Minn., was ordered to review management and reduce bad loans and loan losses.
Allendale County Bank in Fairfax, S.C., which has $59.5 million in assets, must revise its lending policy and maintain at least an 8% Tier 1 leverage ratio and 10% total risk-based capital.
Regulators demanded that the $47.9 million-asset Citizens Bank of Chatsworth in Chatsworth, Ill., review management, reduce loan losses and develop a profit plan.
The $35.6 million-asset Trust Company Bank in Mason, Tenn., is required to add more independent directors to its board, establish a non-employee compliance committee and increase capital.
The FDIC terminated actions against 22 banks, including Highland Bank in St. Michael, Minn.; Vermont State Bank in Vermont, Ill.; Cambridge State Bank in Cambridge, Minn.; Metropolitan Bank in Oakland, Calif.; Union Bank in Marksville, La.; Central Arizona Bank in Casa Grande, Ariz.; Bank of Valdosta in Valdosta, Ga.; Elysian Bank in Elysian, Minn.; First Southwest Bank in Alamosa, Colo.; Inland Bank and Trust in Oak Brook, Ill.; Community Trust & Banking Company in Ooltewah, Tenn.; SouthCrest Bank in Thomaston, Ga.; Premier Bank in Tallahassee, Fla.; People's Exchange Bank in Stanton, Ky.; River City Bank in Louisville, Ky.; Community Bank of Oak Park River Forest in Oak Park, Ill.; Mid-Wisconsin Bank in Medford, Wis.; Signature Bank in Bad Axe, Mich.; The Bank of Harlan in Harlan, Ky.; The Bank of Southern Connecticut in New Haven, Conn.; Covenant Bank in Chicago; and Pisgah Community Bank in Asheville, N.C.
A total of eight banks were fined by the FDIC. The most several penalties were a $135,050 fine against Synovus Bank in Columbus, Ga.; a $100,000 fine for First Federal Savings Bank of Elizabethtown, Ky.; and a $70,000 fine against German American Bancorp in Jasper, Ind.
Also facing fines were The Pitney Bowes Bank in Salt Lake City; First State Bank in Cranford, N.J.; Collin Bank in Plano, Tex.; BankTrust Financial in Henderson, Ky.; and Inland Northwest Bank in Spokane, Wash.