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Fed terminates enforcement action against Hometown Bancshares

The Federal Reserve on May 16 terminated its enforcement action against Hometown Bancshares Inc.

The Carthage, Mo.-based company was acquired by Springfield, Mo.-based Guaranty Federal Bancshares Inc. on April 2.

The enforcement action, issued April 28, 2009, prohibited Hometown Bancshares from paying and receiving dividends, making distributions of interest, principal or other sums on subordinated debentures or trust preferred securities without prior written approval. It also banned the company from incurring, increasing or guaranteeing debt, among other restrictions.