The Federal Reserve Board said it has reached a written agreement with BankVest Inc. of Castle Rock, Colo.
BankVest agreed to be a source of strength to the $919.2 million-asset Colorado Capital Bank, which has been operated under a consent order with the Federal Deposit Insurance Corp. since September. The Fed agreement was announced Tuesday.
BankVest was also barred from paying dividends or paying interest or principal on subordinated debt and trust-preferred securities without approval from the Federal Reserve.
