Banks from Menomonee Falls, Madison, Cambridge, New London, Sauk City ordered to improve operations, raise capital
The Federal Deposit Insurance Corp. ordered five Wisconsin banks to improve their operations last week. The banks were:
- Securant Bank & Trust, Memonomee Falls
- The Park Bank, Madison
- Cambridge State Bank, Cambridge
- First State Bank, New London
- Community Business Bank, Sauk City
Securant Bank & Trust received its notification from the FDIC on Aug. 19. It is the only of the five banks that the FDIC gave new notifications located in southeastern Wisconsin.
According to the FDIC, Securant Bank & Trust needs to improve its capital ratio, create a plan to charge off loans that were classified as losses during a November, 2009 report by FDIC officials. The bank is also prohibited from making any new loans to customers that had loans that were already classified as losses, the FDIC order states.
To see the full order by the FDIC to Securant, click http://www.fdic.gov/bank/individual/enforcement/2010-08-20.pdf.
