qiguzewy.wordpress.com
The agreement is an outgrowth of an OCC examinatio n of the Winter Park lenderin January. It addresses five arease of concern and requires to the bank to form a compliancer committee composed of members of its boar dof directors. The bank is under orders to add proceduresa to monitor its commercial real estaterloan portfolio. It also must implemenft a plan to manager loans that are deemed weak and in jeopardyof • Establishment of a program to ensure an adequats allowance for loan and lease • Agreement not to accept brokered depositse in exc.
ess of 10 percentg of total deposits withouf OCC permission • Development of a three-yearr plan of operations that incorporates conditions of the agreement. First National Chairwomaj Susma Patel said in a written statemeny that the bank has taken steps she believesd put it in compliance with the She said regulatory agencies are tighteninfg standards for lenders as theeconomy deteriorates. “The downturj in real estate valuations in the Florid marketis well-publicized and, as a result, regulatoryu agencies are expecting a highe r standard of procedural monitoring of loans secured by commercial real she said.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment