Shares of Southern Community Bancshares Inc. in Fayetteville, Ga., fell 20% Tuesday, to $2.40, after the $378 million-asset company said it is operating under a cease-and-desist order from the Federal Deposit Insurance Corp. and the Georgia Department of Banking and Finance.

The order requires Southern Community Bank to retain qualified executives, increase its Tier 1 capital ratio to 8%, improve board oversight, strengthen its loan underwriting, reduce or eliminate problem assets within set time frames, address credit concentrations, and formulate a plan to improve earnings, among other things.

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