The Federal Deposit Insurance Corp. has ordered a North Dakota bank to stop lending practices it considers unsafe and illegal.

First State Bank of Sharon was slapped with a cease-and-desist order in April that charged it with failure to properly identify credit risks and poor bookkeeping.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

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