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FDIC issues consent orders against 3 banks

The Federal Deposit Insurance Corp. on March 27 released a list of administrative enforcement actions taken against banks and individuals in February. There are no administrative hearings scheduled for April.

The following list excludes actions that do not meet criteria for S&P Global Market Intelligence's news coverage. Click here to view an Excel template showing our full database of enforcement actions against U.S. banks and thrifts.

Consent orders

The FDIC and the Kansas Office of the State Bank Commissioner on Feb. 6 issued a consent order against Spearville, Kan.-based Ford County State Bank.

The bank consented to the issuance of the order without admitting or denying any charges of unsafe or unsound banking practices.

Pursuant to the order, among other things, the bank is required to have and retain qualified management, including a new senior loan officer.

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The FDIC and the New Mexico Financial Institutions Division on Feb. 10 issued a consent order against Southwest Capital Bank, a unit of Las Vegas Bancorp. Inc.

The Albuquerque, N.M.-based bank consented to the issuance of the order without admitting or denying any charges of unsafe or unsound banking practices.

Among other things, the order requires the bank to maintain certain minimum capital ratios and prohibits it from paying any cash dividends without prior written consent from regulators.

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The FDIC and the California Department of Business Oversight on Feb. 27 terminated their August 2017 consent order against California Business Bank and issued a new one.

The Irvine, Calif.-based bank consented to the issuance of the order without admitting or denying any charges of unsafe or unsound banking practices.

Pursuant to the order, among other things, the bank is required to have and retain qualified management, and to maintain its Tier 1 capital in such an amount to ensure that its leverage ratio equals or exceeds 10% during the life of the order.

Orders of termination of insurance

The FDIC found that Sunrise, Fla.-based TransCapital Bank is not engaged in the business of receiving deposits, other than trust funds.

On Feb. 12, the regulator ordered the termination of TransCapital Bank's status as an insured state nonmember bank at the expiration of June 30, which is the last day of the first full quarterly assessment period following the issuance date of the order.

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The FDIC found that Chicago-based South Central Bank NA is not engaged in the business of receiving deposits, other than trust funds.

On Feb. 28, the FDIC ordered the termination of South Central Bank's status as an insured national bank at the expiration of June 30.