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Article: New Resource Bank Reaches Stipulation with FDIC.
- Article from:
- Business Wire
- Article date:
- May 30, 2009
CopyrightCOPYRIGHT 2009 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Bank Has High Levels of Capital and Liquidity to Deal with Economy Downturn
SAN FRANCISCO -- New Resource Bank has entered into stipulation with the Federal Deposit Insurance Corporation (FDIC) and California Department of Financial Institutions (DFI) to undertake various corrective actions. The Bank believes that implementing these actions will enhance Bank operations.
The corrective actions are based on the state of the bank as of September 30, 2008 and includes a number of requirements, many of which the bank has already implemented including strengthening the management team, insuring the bank is well capitalized and has good liquidity and ...