Citing low capital reserves in each case, government regulators have reprimanded three community banks.

The Federal Reserve Board on Thursday released a prompt corrective action against Zia New Mexico Bank, Tucumcari, N.M. The $16.8 million- asset bank was ordered to increase its equity or find a buyer by Feb. 28. Zia New Mexico was also instructed to cut the interest rates it offers on deposit accounts and restrict the bonuses given to senior officers.

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