WASHINGTON — A Georgia lender agreed to obtain Federal Reserve approval for paying dividends or taking on debt.

The Fed on Tuesday released its agreement with Atlantic Southern Financial Group. The bank holding company owns Atlantic Southern Bank, of Macon.

Under the agreement, the company cannot declare or pay dividends, incur debt, or buy its stock without prior approval.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.