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Fed terminates 2010 enforcement action with Cornerstone Bancshares

The Federal Reserve Board on Feb. 13 terminated its enforcement action with Cornerstone Bancshares Inc. and its subsidiary Cornerstone Bank.

The January 2010 written agreement was in connection with the bank's asset improvement, allowance for loan and lease losses, capital plan, earnings plan and budget and liquidity/funds management.

The Fed's written agreement limited the Overland Park, Kan.-based company's ability to declare or pay any dividends without written approval by the Fed.