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The Federal Reserve Board has released Metropolitan Bank Holding in New York from a January 2011 enforcement action.
February 26 -
Foundation Bancorp (FDNB) in Bellevue, Wash., has been released from an enforcement action issued by the Federal Deposit Insurance Corp. and state regulators.
February 25
Royal Financial (RYFL) in Chicago has received permission from the Federal Reserve to withdraw an April 2010 board resolution that banned the company from paying dividends, increasing debt or redeeming stock without regulatory approval.
The board of the $118 million-asset Royal Financial decided to lift the resolution after its bank was freed from a memorandum of understanding with federal and state regulators in November 2013, according to the company's Friday press release.
"This action reflects the board's confidence that the improvements in the financial condition, operations and prospective results of Royal Savings Bank, our subsidiary, eliminate the need for the company to operate under capital restrictions," Chairman Jim Fitch said in the release. "We are pleased that the company's regulator has agreed with our decision to remove the capital restrictions, and we look forward to focusing more completely on increasing shareholder value."
Royal Financial had a 16.7% Tier 1 leverage ratio and a 27.78% total risk-based capital ratio as of Dec. 31, according to data from the Federal Deposit Insurance Corp. It earned $6.8 million in 2013, up from $538,000 in full-year 2012 and $685,000 in 2011.
