The Federal Reserve has entered into a written agreement with a Georgia banking company.
Jones Bancshares LP agreed to serve as a source of strength to its $405.1 million-asset PrimeSouth Bank in Blackshear, which has been operating under a consent order from the Federal Deposit Insurancce Corp. since Jan. 31.
The company was barred from paying dividends or incurring debt without Fed approval, among other things.