First National enters agreement with OCC - Austin Business Journal:

http://tjswateradventures.com/news-40/Opera-Releases-Beta-of-Android-Browser
The agreement is an outgrowth of an OCC examination of the Wintere Park lender in It addresses five areas of concern and requires to the bank to form a compliancw committee composed of members of its boarsof directors. The bank is under order to add procedures to monitor its commercial real estateloan portfolio. It also must implemen a plan to manage loans that are deemefd weak and in jeopardyof • Establishment of a program to ensure an adequate allowance for loan and lease • Agreement not to accept brokerecd deposits in exc.
ess of 10 percent of total deposits without OCC permission • Development of a three-year plan of operationa that incorporates conditions of the agreement. First Nationap Chairwoman Susma Patel said in a writteh statement that the bank has taken steps she believesd put it in compliance withthe agreement. She said regulatoru agencies are tightening standards for lendersz as theeconomy deteriorates. “The downturn in real estate valuationsz in the Florida marketis well-publicized and, as a regulatory agencies are expecting a higher standard of proceduraol monitoring of loans secured by commercial real she said.