The Federal Reserve Board acted against three banks Tuesday.

Bank of Whitman in Colfax, Wash., was hit with a prompt corrective action after the Fed found that the $722.2 million-asset bank was undercapitalized and failed to submit an acceptable capital restoration plan. The bank has 90 days to raise capital or sell itself.

The Fed also issued a prompt corrective action against Idaho Banking Co. in Boise, which also failed to provide regulators with an acceptable capital plan. The $195.4 million-asset company, deemed undercapitalized, was given 90 days to raise equity or find a buyer.

Market Bancorp. Inc. in Elko New Market, Minn., reached a written agreement to be a source of strength to the $84.7 million-asset New Market Bank. The company is barred from paying dividends or incurring debt without regulatory approval.

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