The Federal Reserve Board has lifted a written agreement with Ames Community Bank in Iowa that required the company to improve its credit administration.

The October 2009 agreement among Ames, the Federal Reserve Board of Chicago and Iowa banking regulators required the $406 million-asset bank to strengthen the board's oversight of management.  Ames also had to take steps to reduce the level of concentrations in its commercial real estate loan portfolio, boost capital, improve earnings, strengthen risk management and revise its allowance for loan losses.

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