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Article: United States : Federal regulator orders Nassau County bank to improve operations.
- Article from:
- TendersInfo
- Article date:
- September 30, 2009
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Financial Health Like a lot of banks in Northeast Florida, CBC National Bank has been saddled with a large number of bad real estate loans. But the Fernandina Beach-based bank's problems became large enough that it has entered into an agreement with the U.S. Comptroller of the Currency to improve its operations.
Coastal Banking Co. Inc., the parent company of the bank, announced that the agreement outlines strategies for the bank to reduce credit risk and improve its asset quality and earnings.
Coastal Banking is headquartered in Beaufort, S.C., but CBC National Bank is its main subsidiary and is headquartered in Fernandina Beach. The bank operates there ...