Regulators have ordered Community 1st Bank Las Vegas in New Mexico to appoint a new chief executive and clean up its loan portfolio.

A May 5 consent order from the New Mexico Financial Institutions Division and the Federal Deposit Insurance Corp. that was made public in June requires the $146 million-asset Community 1st to appoint a CEO with experience managing a bank that's "comparable" in size. The order also says that the bank must hire a new chief lending officer and requires that its board increase its oversight of management and its activities.

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