The Federal Reserve Bank of Atlanta announced Tuesday that OptimumBank Holdings Inc. of Fort Lauderdale, Fla., has signed an agreement to maintain financial soundness.
The company's OptimumBank unit in Plantation, Fla., has been operating under a consent order with the Florida Office of Financial Regulation and the Federal Deposit Insurance Corp. since April.
As of March 21 the $217.5 million-asset bank was considered adequately capitalized, with a total risk-based capital ratio of 9.23%, according to the FDIC.
The written agreement announced Tuesday went into effect June 18.
It stipulates that the Federal Reserve must approve any of OptimumBank Holdings' actions involving dividend payments, debt repayments and repurchasing stock, among other things.