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Fed lifts enforcement action against Citizens Commerce

The Federal Reserve Board on Dec. 1 terminated its May 2010 written agreement with Versailles, Ky.-based Citizens Commerce Bancshares Inc.

The enforcement action had followed the Office of the Comptroller of the Currency's cease and desist order against subsidiary Citizens Commerce National Bank. The agreement with the Fed limited the parent company's ability to pay dividends, incur debt or redeem stock.