LegacyTexas Group Inc. in Plano must get more aggressive in dealing with its loan trouble in order to satisfy regulators.

The $1.8 billion-asset company must devise a plan for handling overdue loans exceeding $1 million and charge off any loan unlikely to be collected, under a written agreement with the Federal Reserve Bank of Dallas and the Texas Department of Banking. The agreement is dated Aug. 18, but the Fed disclosed it Thursday.

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.