Federal banking and credit union regulators recently doled out nearly 60 regulatory orders. More than a third of the orders require the institutions to improve capital, operations, management or all of the above.
During the past three months, the Office of the Comptroller of the Currency handed out the following 18 cease-and-desist orders. Bank failures are often preceded by cease-and-desist orders.
Cease-and-Desist Orders
| Company | Location | Regulator | Order/Docket No. | Date |
| Academy Bank, National Association | Colorado Springs, Colo. | OCC | 2010-095 | May 11 |
| Armed Forces Bank, National Association | Ft. Leavenworth, Kan. | OCC | 2010-100 | May 11 |
| Bank Midwest, National Association | Kansas City, Mo. | OCC | 2010-104 | May 11 |
| Brazos Valley Bank, National Association | College Station, Texas | OCC | 2010-131 | May 27 |
| Cadence Bank, National Association | Starkville, Miss. | OCC | 2010-103 | May 19 |
| Charter National Bank and Trust | Hoffman Estates, Ill. | OCC | 2010-099 | April 29 |
| First National Bank | Rosedale, Miss. | OCC | 2010-102 | May 12 |
| The First National Bank of Logan against Timothy J. Lapke | Logan, Iowa | OCC | 2010-112 | May 17 |
| The First National Bank of Ordway | Ordway, Colo. | OCC | 2010-096 | April 21 |
| FSGBank, National Association | Chattanooga, Tenn. | OCC | 2010-106 | April 28 |
| Goldwater Bank, National Association | Scottsdale, Ariz. | OCC | 2010-092 | May 11 |
| Mission Oaks National Bank | Temecula, Calif. | OCC | 2010-094 | May 12 |
| Pacific Capital Bank, National Association | Santa Barbara, Calif. | OCC | 2010-093 | May 11 |
| Rosemount National Bank | Rosemount, Minn. | OCC | 2010-101 | April 28 |
| Security Bank, National Association | North Lauderdale, Fla. | OCC | 2010-097 | May 19 |
| Southern Commerce Bank, National Association | Tampa, Fla. | OCC | 2010-098 | May 11 |
| Sunbank, National Association | Phoenix | OCC | 2010-091 | May 11 |
| Valley National Bank | Espanola, N.M. | OCC | 2010-105 | May 5 |
Financial institutions that face formal agreements are often required to conserve or raise capital, improve operations and, sometimes, replace executives. The Fed, the National Credit Union Administration and the OCC reached formal agreements with the following 21 institutions.
Formal Agreements
| Company | Location | Regulator | Order/Docket No. | Date |
| Armed Forces Bank of California, National Association | San Diego | OCC | 2010-120 | May 11 |
| Beach Community Bancshares Inc. | Fort Walton Beach, Fla. | Federal Reserve Bank of Atlanta | 10-039-WA/RB-HC | June 1 |
| Castle Rock Bank | Castle Rock, Colo. | Federal Reserve Bank of Kansas City, State of Colorado Division of Banking | 10-090 -WA/RB-SM | May 25 |
| Citizens Bank, National Association | Fort Scott, Kan. | OCC | 2010-124 | April 28 |
| Cornerstone National Bank | Easley, S.C. | OCC | 2010-127 | May 12 |
| Dearborn Bancorp Inc. | Dearborn, Mich. | Federal Reserve Bank of Chicago | 10- 097-WA/RB-HC | June 15 |
| First National Bank of Kansas | Burlington, Kan. | OCC | 2010-123 | May 27 |
| Hampton Roads Bankshares Inc., Bank of Hampton Roads | Norfolk, Va. | Federal Reserve Bank of Richmond, Virginia Bureau of Financial Institutions | 10-073-WA/RB-HC, 10-073-WA/RB-SM | June 9 |
| Herald National Bank | New York | OCC | 2010-126 | April 22 |
| Lincoln County Bancorp, Peoples Bank and Trust Co | Troy, Mich. | Federal Reserve Bank of St. Louis | 10-095 -WA/RB-HC, 10-095- WA/RB-SM | June 14 |
| Mid State Banks Inc. | Hawkinsville, Ga. | Federal Reserve Bank of Atlanta, State of Georgia Department of Banking and Finance | 10-079-WA/RB-HC | June 2 |
| Patriot National Bancorp Inc. | Stamford, Conn. | Federal Reserve Bank of New York | 10-085-WA/RB-HC | June 2 |
| Patterson Bankshares Inc. | Patterson, Ga. | Federal Reserve Bank of Atlanta, State of Georgia Department of Banking and Finance | 10-106-WA/RB-HC | June 1 |
| PremierWest Bancorp | Medford, Ore. | Federal Reserve Bank of San Francisco; Oregon Department of Consumer and Business Services, Division of Finance and Corporate Securities | 10-088-WA/RB-HC | June 4 |
| Saigon National Bank | Westminster, Calif. | OCC | 2010-121 | May 13 |
| Seaside National Bank & Trust | Orlando, Fla. | OCC | 2010-122 | May 3 |
| SouthwestUSA Corp. | Las Vegas | Federal Reserve Bank of San Francisco | 10-107-WA/RB-HC | June 2 |
| Southwestern National Bank | Houston | OCC | 2010-128 | May 19 |
| Sperry Associates Federal Credit Union | Garden City Park, N.Y. | NCUA | na | June 11 |
| Sun National Bank | Vineland, N.J. | OCC | 2010-125 | April 15 |
| Village Bancorp | St. George, Utah | Federal Reserve Bank of San Francisco | 10-111-WA/RB-HC | June 2 |
The OCC reported that formal agreements were terminated with Cadence Bank, National Association; Mission Oaks National Bank; Standing Stone National Bank; and Valley National Bank.
Civil Money Penalties
| Company | Individual | Location | Regulator | Order/Docket No. | Amount | Date |
| City National Bank | na | Los Angeles | OCC | 2010-107 | na | May 3 |
| The First National Bank of Logan | Hartwig, Christopher R. | Logan, Iowa | OCC | 2010-110 | na | May 17 |
| The First National Bank of Logan | Lapke, John | Logan, Iowa | OCC | 2010-111 | na | May 17 |
| The First National Bank of Logan | Lapke, Timothy J. | Logan, Iowa | OCC | 2010-112 | na | May 17 |
| First National Bank of The Rockies | Penny, Bruce | Grand Junction, Colo. | OCC | 2010-108 | na | May 6 |
| First National Bank of The Rockies | Waller, Peter | Grand Junction, Colo. | OCC | 2010-109 | na | May 6 |
| Great Plains National Bank | na | Elk City, Okla. | OCC | 2010-113 | na | May 10 |
| Monarch Bank | na | Chesapeake, Va. | Fed | 10-104-CMP-SM | $7,215 | June 11 |
| The National Bank of Malvern | Aller, Jamie Bartholomew | Malvern, Pa. | OCC | 2010-114 | na | May 28 |
| The National Bank of Malvern | Bartholomew, Andrew | Malvern, Pa. | OCC | 2010-115 | na | May 28 |
| The National Bank of Malvern | Bartholomew, Lydia Willits | Malvern, Pa. | OCC | 2010-116 | na | May 28 |
| The National Bank of Malvern | Shipp, Barbara | Malvern, Pa. | OCC | 2010-117 | na | May 28 |
| The National Bank of Malvern | Shipp, John | Malvern, Pa. | OCC | 2010-118 | na | May 28 |
| The National Bank of Malvern | Shipp, William L. | Malvern, Pa. | OCC | 2010-119 | na | May 28 |
The following three firms faced Fed prompt corrective actions this month.
Prompt Corrective Action Directives
| Employer | Location | Regulator | Order/Docket # | Date |
| Metro Bank of Dade County | Miami | Fed | 10-128-PCA-SM | June 15 |
| Pierce Commercial Bank | Tacoma, Wash. | Fed | 10-115-PCA-SM | June 10 |
| Sterling Bank | Lantana, Fla. | Fed | 10-120-PCA-SM | June 10 |
A capital directive was issued against Native American Bank.
Capital Directives
| Company | Location | Regulator | Order # | Date |
| Native American Bank, National Association | Denver | OCC | 2010-090 | March 12 |
A former bank employee and a former credit union employee have been banned from working in the industry.
Removal / Prohibition Orders
| Company | Individual | Location | Regulator | Order/Docket # | Date |
| The First National Bank of Logan | Lapke, John | Logan, Iowa | OCC | 2010-111 | May 17 |
| Pioneer Federal Credit Union | Law, Tammy | Mountain Home, Idaho | NCUA | 10-0008-R5 | March 11 |
