The Federal Reserve has told Fullerton, Calif.-based Pioneer Bank to raise its critically low capital ratios by the end of this month.

The directive, issued under the prompt-corrective-action provision of the 1991 banking law, shows that the regulatory hammer that crunched so many community banks in southern California last year hasn't been put away yet.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.