First Trust in New Orleans has been freed from a written agreement with the Federal Reserve Board.
The June 2012 agreement required First Trust to develop a capital plan, submit to annual audits and refrain from paying dividends without regulatory approval. The board of the $723.4 million-asset company was required to act as a source of strength to its bank.
In August, First Trust was released from a July 2010 consent order from the Federal Deposit Insurance Corp. The order required First Trust to address issues relating to management, loan quality, earnings, liquidity, capital and sensitivity to market risk.