The Federal Reserve Board has terminated an enforcement action against Tradition Bancshares Inc.

Tradition, the parent of the $421.9 million-asset Tradition Bank in Houston, had been operating under a written agreement with the Fed since June 2009.

The termination was announced Thursday.

Under the 2009 agreement, Tradition had to provide regulators with a written plan to strengthen board oversight and loan underwriting, among other things.

Tradition and its bank had also been barred from paying dividends.

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