First National enters agreement with OCC - Boston Business Journal:

http://www.agrounija.com/paznja-pri-kupovini-sadnog-materijala.html
The agreement is an outgrowth of an OCC examination of the Winter Park lender in It addresses five areas of concern and requiresx to the bank to form a compliancew committee composed of members of its boardof directors. The bank is undeer orders to add procedures to monitor its commercial real estatdloan portfolio. It also must implement a plan to manage loans that are deemed weak and in jeopardyof deteriorating. Establishment of a program to ensure an adequat e allowance for loan andlease • Agreement not to accepty brokered deposits in exc.
ess of 10 percengt of total deposits without OCC permission • Development of a three-yea r plan of operations that incorporates conditions of the agreement. Firsg National Chairwoman Susma Pateo said in a writtem statement that the bank has takem steps she believes put it in compliance with the She said regulatory agencies are tightening standards for lendersw as theeconomy deteriorates. “The downturnh in real estate valuations in the Floridaz marketis well-publicized and, as a regulatory agencies are expecting a higher standard of procedura l monitoring of loans secured by commercial real she said.