Popular Searches: 　AIG 　china 　sunamerica+aig 　LIFE 　financial 　health
  • Share

FDIC Intervenes in Western Commercial Bank

 

Monday, Feb 22,2010, 1:44:45 AM   Click:

Western Commercial Bank entered into a Consent Order to Cease and Desist, effective September 18, with the Federal Deposit Insurance Corporation and the California Department of Financial Institutions.

The order requires the bank to: increase capital by no less than $1 million and achieve a 9.5 percent Tier 1 capital ratio within 90 days; reduce dependence on non-core deposits; and reduce classified assets to no more than 50 percent of the Tier 1 capital plus the allowance for loan and lease losses within 120 days.

The order also requires Western Commercial to implement plans to diversify its loan portfolio, reduce its commercial real estate loan concentration, manage and mitigate the liquidity risk, and diversify funding sources within 60 days.

Western Commercial must develop a three-year strategic plan and budget, including goals and strategies to improve the bank's net interest margin, increase interest income and improve and sustain earnings, within 60 days.

 

  • Share
  • Print

You may also be interested in:

Discuss this news

Click Here to see all comments
Please aware of self to obey the Internet related policy laws and strictly forbid to release porn, violence.
Appraisal:

Name:

Email:

Content:

Featured

BROOKLYN, NY -- (MARKET WIRE) -- 06/15/09 -- Colosa's open source business process management (BPM) software, ProcessMaker (http://www.processmaker.com), has been selected by Global Risk Partners to

Global Risk Partners Increases Speed and Accuracy of

BROOKLYN, NY -- (MARKET WIRE) -- 06/15/09 -- Colosa's open source business

WASHINGTON_Cast as a profit-hoarding villain by Democratic foes, the insurance industry still has a fighting chance to fend off the part of health care overhaul it most despises _ creation of a

THE INFLUENCE GAME: Insurers fighting back quietly

WASHINGTON_Cast as a profit-hoarding villain by Democratic foes, the insurance

Massive change is upon the annuity industry. Now is your chance to lead the change and fight for your rights and most importantly YOUR CLIENTS! Change is what the American people voted for and those

Annuity Industry Fights Back, Last Chance to join the

Massive change is upon the annuity industry. Now is your chance to lead the

Noting that the Obama administration is expected to unveil its plan to enhance government oversight of financial markets on Wednesday, it also appears likely that we will soon consider reforms aimed

Federal insurance regulation needed, U.S. panel told

Noting that the Obama administration is expected to unveil its plan to enhance

NEW DELHI, INDIA -- (MARKET WIRE) -- 07/16/09 -- Investors seeking the best unbiased research on Analog Devices Inc. (NYSE: ADI), Mitsubishi UFJ Financial Group Inc. (NYSE: MTU), State Street Corp.

StreetInvesting.com Free Research on ADI, MTU, STT,

NEW DELHI, INDIA -- (MARKET WIRE) -- 07/16/09 -- Investors seeking the best

ATLANTA, April 21 /PRNewswire/ -- To support insurance companies as they focus on improving operational efficiency and effectiveness, LOMA has developed and launched Improving the Bottom Line:

New LOMA Course Focuses on Operations, Bottom-Line

ATLANTA, April 21 /PRNewswire/ -- To support insurance companies as they focus

DUBLIN, Ireland--(BUSINESS WIRE)-- Research and Markets (http://www.researchandmarkets.com/research/5c40f8/european_markets_f) has announced the addition of Frost Sullivan's new report European

Research and Markets: European markets for claims

DUBLIN, Ireland--(BUSINESS WIRE)-- Research and Markets

MOST POPULAR