Lawsuit Against Home BancGroup Execs Dismissed

A shareholder lawsuit against the management of Home BancGroup in Hallandale Beach, Fla., has been dismissed, according to a news report.

The suit by Dmitry Khorimskiy, an investor in Home BancGroup, was dismissed on Aug. 9, the South Florida Business Journal reported on Tuesday. Khorimskiy sued the $56 million-asset company in October, calling for the ouster of Chairman Guy Lazzeri, Chief Financial Officer Brian Cole and board member Kenneth Lehman. The suit claimed the executives had breached their duties to shareholders and mismanaged the company.

Lazzeri and Lehman were removed from the board at an election in April, the Business Journal reported. Robert Brookes was named chief executive in May, succeeding interim president and CEO Anthony Leo.

The Office of the Comptroller of the Currency brought a consent order against Home Federal Bank of Hollywood, Home BancGroup's banking unit, in July 2012. The order required the lender to hold Tier 1 capital of 9% and total risk-based capital of 13%. Those ratios were 6.06% and 11.13% as of June 30, according to the Federal Deposit Insurance Corp.