The Federal Reserve Board and the Florida Office of Financial Regulation have directed Sun American Bancorp in Boca Raton to improve its credit quality and maintain appropriate capital levels.

Under the agreement, which the Fed disclosed Tuesday, the $655 million-asset Sun American must manage its concentrations of credit to be consistent with the Interagency Guidance on Commercial Real Estate Lending Sound Risk Management Practices.

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.