-
Old Second Bank in Aurora, Ill., aims to prove that it and other Tarp banks that burned through all their common equity can survive.
March 7 -
The Treasury Department plans to auction its holdings in seven banks, including Flagstar Bancorp (FBC), as it continues to unwind the Troubled Asset Relief Program holdings.
March 8 -
The Treasury Department plans to auction its remaining stakes in 16 banks as it continues to unwind its holdings from the Troubled Asset Relief Program.
May 30
Old Second National (OSBC) in Aurora, Ill., has been released from a
The order, issued to the company's $1.9 billion-asset bank, was lifted on Oct. 17, according a
Old Second was required to maintain a Tier 1 capital ratio of at least 8.75% and a total risk-based capital of at least 11.25%. The bank was also required to reduce credit risk, obtain independent appraisals on loans over $250,000 secured by real property, maintain proper collateral documentation on all loans and adhere to a liquidity risk management program.
With the lifting of the order, Old Secondl's board declared that the bank will now maintain a minimum Tier 1 leverage ratio of 8% and minimum total risk-based capital of 12%. The bank exceeds those thresholds, according to the regulatory filing. It reported a 10% Tier 1 leverage ratio and 16% total risk-based capital as of June 30.
