The Federal Reserve made public two written agreements for bank holding companies dealing with high levels of credit problems at their bank units.

On Tuesday, the Fed released a March 17 agreement with Northern States Financial Corp. in Waukegan, Ill., and a March 18 agreement with Tidelands Bancshares Inc. in Mount Pleasant, S.C. The agreements call for the companies to serve as sources of strength to their banks, and restrict dividends and distributions. The agreements also give the companies 60 days to submit capital plans.

Northern States' Norstates Bank has been under a consent order with the Federal Deposit Insurance Corp. and the Illinois Department of Financial and Professional Regulation since April 2010. That order called for the $531 million-asset bank to have a leverage ratio of 8% and a total risk-based capital ratio of 12% within 120 days. At Dec. 31, those ratios were at 8.34% and 13.08% respectively, but the bank's noncurrent loans made up 7.09% of total loans.

The $573 million-asset Tidelands Bank was ordered by the FDIC in December to have an 8% leverage ratio and a 10% total risk-based capital ratio within 150 days. At Dec. 31, those ratios were 7.03% and 10.24% respectively. Its noncurrent loans made up 7.44% of total loans.

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