First National Community Bancorp Inc. of Dunmore, Pa. has hired investment bank Sandler O'Neill Partners LP to help it evaluate "capital and strategic alternatives."
The $1.3 billion-asset company's bank unit entered into a consent order with the Office of the Comptroller of the Currency in September, and Jerry A. Champi, the company's interim president and chief executive, said in a press release that the company hired Sandler to help it achieve the order's requirements.
Among other things, the order called for the bank unit to have a leverage ratio of 9% and a total risk-based capital ratio of 13% by Nov. 30. At Sept. 30, those ratios were 6.60% and 10.71%. The company has not released yearend data.
First National raised $25 million of subordinated debt in March 2010.
