The Federal Reserve Board said Thursday that it had issued a prompt-corrective-action order to Virginia Business Bank in Richmond.

The $129 million-asset bank was deemed "significantly undercapitalized" in October. Last week's order requires the company to raise equity or seek a buyer within 90 days.

The bank was also barred from paying dividends or accepting deposits at interest rates that exceed "comparable amounts and maturities in the bank's market area."

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