The Federal Reserve has entered into a written agreement with Liberty Bancorp of Clayton, Ga.

Liberty is barred from making payments to shareholders and certain debtholders without regulatory approval. Liberty, the holding company for the $213 million-asset Rabun County Bank, also agreed to serve as a source of strength for the bank, according to the Oct. 30 agreement that the Fed released on Thursday.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.