The Office of the Comptroller of the Currency issued cease-and-desist orders against three banks in October and released seven banks from enforcement actions.
One of the new orders requires One Bank & Trust in Little Rock, Ark., to maintain a minimum Tier 1 leverage ratio of 8% and a total risk-based capital ratio of at least 12%.
The $401 million-asset One Bank was also ordered to improve its loan portfolio and problem asset management and strengthen compliance with the Bank Secrecy Act. The former vice president and controller of One Bank was charged with stealing $75,000 from his employer to pay off credit card bills earlier this week.
EverBank (EVER) in Jacksonville, Fla., agreed to a $43 million settlement as part of an amendment to its April 2011 consent order. The $18.4 billion-asset EverBank will create a $37 million fund for borrowers whose homes were in foreclosure in 2009 and 2010 and pay $6.3 million to affordable housing nonprofits and other organizations approved by the Department of Housing and Urban Development.
And First National Bank in Howell in Howell, Mich., was ordered to maintain a minimum Tier 1 leverage ratio of 8.5% and a total risk-based capital of 11%. The $299 million-asset First National must also improve loan and credit risk management, form a compliance committee, develop a strategic plan and revise its other-real-estate-owned program.
The OCC lifted enforcement actions against Chino Commercial Bank in Chino, Calif.; Old Second National Bank in Aurora, Ill.; Middlesex Federal Savings in Somerville, Mass.; the National Bank of New York City in Flushing, N.Y.; Continental Bank in Plymouth Meeting, Pa.; The Conway National Bank in Conway, S.C.; and a Wells Fargo (WFC) unit in Sioux Falls, S.D.