A unit of Fentura Financial (FETM) in Fenton, Mich., has been freed from a regulatory order.
The $308 million-asset State Bank had been operating under a December 2009 consent order from the Federal Deposit Insurance Corp. and the State of Michigan Office of Financial and Insurance Regulation. The bank had a Tier 1 capital ratio of 8.7% and a total risk-based capital ratio of 13.3% as of Dec. 31, according to the Federal Deposit Insurance Corp.
Fentura returned to profitability during the fourth quarter, earning $453,000 after losing $400,000 a year earlier.
Fentura is still operating under a November 2010 written agreement with the Federal Reserve Board.