A Rome bank that had been under a consent order from the Comptroller of the Currency since 2011 had the order lifted.
Heritage First Bank was released from the order in mid-September. The Comptroller “believes that the protection of the depositors, other customers and shareholders of the Bank as well as its safe and sound operation do not require the continued existence” of the order, a statement said.
The bank was required to diversify its board, raise its capital levels and create a three-year business plan, among other actions. It had to update regulators about its progress on those actions, its moves to improve management of its loan portfolio and other requirements.
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