The number of community banks under enforcement actions fell in January, as the Federal Deposit Insurance Corp. ended 16 orders and issued five on the month.
The $413 million-asset Norstates Bank in Waukegan, Ill., was the largest target of a consent order. The Jan. 9 order requires the bank to improve oversight of its board and lending procedures and maintain a Tier 1 leverage ratio of 8% and a risk-based ratio of 12%. Its current ratios are 6.67% and 12.11%, respectively. This consent order replaced one from April 2010.