American National Bank in Oakland Park, Fla., has been freed from an enforcement action from the Office of the Comptroller of the Currency.

The OCC also declared that the $238 million-asset bank was in a "safe and sound" condition.

Regulators determined in February 2012 that the bank was in a "troubled condition" because of banking practices that included credit risk and anti-money laundering compliance problems. The OCC completed an exam in May 2011 against the bank and told them to evaluate its Bank Secrecy Act personnel, enhance procedures for identifying suspicious transactions, review accounts of customers who receive criminal subpoenas and start conducting independent audits of its BSA procedures.

Two years ago, First American had $8.8 million in delinquent loans, accounting for 6.8% of total loans. The bank also had $5.8 million loans that had been subject to troubled debt restructuring, according to the South Florida Business Journal.

The bank had $4.6 million in noncurrent loans at the end of last year, representing 2.8% of total loans, and no repossessed properties.

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