The Federal Reserve on Thursday announced that it had entered into a written agreement with a banking company while also disclosing the termination of a prior order.
West Pointe Bancshares Inc. in Oshkosh, Wis., agreed to serve as a source of strength to its $396 million-asset West Pointe Bank, which has been operating under a consent order with regulators since Jan. 11. The company was barred from paying dividends or incurring debt without Fed approval, among other things.
The Fed also announced that it had terminated a written agreement with Alterra Bank in Overland, Kan. The $133.4 million-asset bank, which once was known at 1st Financial Bank, had been operating under its agreement since June 2009.