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The Federal Reserve Board terminated its Oct. 13, 2010, enforcement action against Abingdon, Va.-based Highlands Bankshares Inc. and unit Highlands Union Bank.
Among other things, the board of Highlands Bankshares was ordered to take appropriate steps to fully utilize the company's financial and managerial resources to serve as a source of strength to the bank. The bank's board was also ordered to submit a written plan to strengthen board oversight of the management and operations of the bank.