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FDIC issues consent orders to four state banks

Post by C.R. Roberts / The News Tribune on Dec. 29, 2009 at 4:11 pm with No Comments »
December 29, 2009 4:12 pm

The Federal Deposit Insurance Corp. this week issued an updated list of enforcement actions taken against financial institutions in November. Four Washington banks were among those noted as receiving a Consent Order from the agency.

The four Washington institutions were Viking Bank, of Seattle; The Bank of Washington, of Lynwood; American Marine Bank, of Bainbridge Island; and Regal Financial Bank, of Seattle.

The banksĀ  were variously ordered, among other things, to maintain professional leadership; ensure safe levels of capital; better manage problem loans; and develop plans aimed at success.

A consent order is not necessarily an indication that a bank is failing, but rather is an indication that regulators are aiming greater scrutiny at internal operations.

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