The Federal Reserve said Monday that it has ordered Cornerstone Bancshares Inc. of Overland Park, Kan., to submit plans to strengthen its credit risk management and improve its capital position, earnings and budgeting.
Cornerstone, which operates the $260.2 million-asset Cornerstone Bank, also was asked to devise policies to strengthen the management of its commercial real estate loan concentrations, the Fed said.
Under the agreement, which was reached earlier this month, Cornerstone cannot declare or pay any dividends without the Fed's prior written approval.
