The Federal Reserve Board has entered into a written agreement with TCB Holding that requires the Woodlands, Texas, company to serve as a source of strength for its bank.

Under the agreement, the $261 million-asset company cannot declare or pay dividends or repurchase stock without Fed approval. TCB Holding also has to submit a statement of its planned sources and uses of cash for debt service, operating expenses and other purposes.

TCB Holding entered into the agreement last week and the Fed announced it on Tuesday.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

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