The Federal Reserve took enforcement action Thursday against banks in Colorado and North Carolina.
The first action against PB Financial Group Inc. in Denver and its Premier Bank comes after the Fed said that the bank has still failed to comply with a 2007 order to correct safety and soundness deficiencies. Under the latest agreement, the Fed has ordered the bank to submit a plan on how it will bolster its board oversight and strengthen its risk-management practices.
The second action was against Bank of Currituck in Moyock, N.C. That agreement also requires the bank to submit a plan to strengthen board oversight. The bank also must assess the qualifications of its senior officers and devise a way to strengthen credit risk management practices, among other things.