First National enters agreement with OCC - The Business Journal of Milwaukee:

http://www.garden-sad.ru/page/4
The agreement is an outgrowty of an OCC examination of the Winter Park lender in It addresses five areas of concerbn and requires to the bank to form a compliancew committee composed of members of its boarcdof directors. The bank is unde r orders to add procedures to monitof its commercial real estate loan It also must implement a plan to manage loans that are deemex weak and in jeopardtof deteriorating. • Establishmenf of a program to ensure an adequat allowance for loan andlease • Agreement not to accept brokerexd deposits in exc.
ess of 10 percent of total deposits withoug OCC permission • Development of a three-yeaf plan of operations that incorporates conditions of the First National Chairwoman Susma Patel said in a written statementy that the bank has taken steps she believes put it in compliancwe with the agreement. She said regulatory agenciese are tightening standards for lenderx as theeconomy “The downturn in real estate valuationss in the Florida market is well-publicizer and, as a result, regulatory agencies are expecting a highe standard of procedural monitoringy of loans secured by commercial real estate,” she said.