DECATUR, Ga. -- Prime Bank said it has consented to give the Office of Thrift Supervision advance notice if it expects growth in liabilities to exceed 12.5% in any six months.
The regulatory agreement also calls for Prime Bank, a federal savings bank with $643 million in assets and stockholder equity of $36 million, to notify the OTS of any proposed material increase in fixed assets.
Prime Bank said it had been directed to tighten internal lending and operational procedures and add $700,000 to loan-loss reserves, which had been done by the end of August.
