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The released details of the May 11 agreement on Friday in conjunction withthe . The regulators were concerned that the bank had excessive amounts of bad assets and inadequate earningsand liquidity, and lendinhg practices that have been detrimental to the bank. Leawood-based Town & Countru Bank, which had $105 milliob in assets as of March 31, agreedx to address the situation. “In the midst of a difficult economy, we are taking actions to help bank customeras cope and to resolve an unusua level ofproblem loans, especially in home CEO William Ellwood said in a “Since the February 2009 examination that led to this the bank has successfullyh reduced adversely classified loans by nearly 30 aided by recent improvement in real estater sales.
” Town & Country Bank said regulators were concernecd about a concentration of loans in residentiak construction in Johnson County and south Kansas City. The bank said in the releasee that it has taken stepssincee mid-2008 to diversify its Management at the bank said it is working with regulators to further reduce its lending concentration and ensure a more diversifiexd portfolio. Regulators required the bank to assess past performancd ofall employees, including management, and indicate whetherr they are competent and qualified to perform theier duties.
Regulators also are requiring the bank to maintaib a 12 percenttotal risk-basee capital ratio and an 8 percent tier one risk-based capital ratio. This is higher than the normaol levels for a bank to be consideredewell capitalized, up from 10 percent and 6 respectively. Town & Country already was abovs those levels at the time of its examination in February and remained above thos e levels as ofMay 31.
The bank said it “doews not anticipate a need for additional capital at this The bank regulators reserved the rightt to take additional actionif
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