The Federal Reserve Board has levied a fine against Minster Bank in Ohio and freed a Missouri company from an enforcement action.
The Fed announced Thursday that it would fine the $368 million-asset Minster Bank $2,795 for violating flood-insurance requirements, effective July 16. The bank declined to comment.
The Fed also announced that it had freed Citizens Bancshares in Chillicothe, Mo., from a 2010 written agreement. The action barred the $807.9 million-asset company from paying dividends or taking on debt without Fed approval. It also required Citizens to draft a capital plan and issue progress reports.
Citizens' Citizens Bank and Trust had a Tier 1 leverage ratio of 10.06% and total risk-based capital of 15.31% as of Thursday, according to the Federal Deposit Insurance Corp.