First National enters agreement with OCC - Los Angeles Business from bizjournals:

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The agreement is an outgrowth of an OCC examination of the Winterd Park lenderin January. It addresses five areaws of concern and requires to the bank to form a compliances committee composed of members of its board of The bank is under orderws to add procedures to monitor its commerciao real estateloan portfolio. It also must implement a plan to managr loans that are deemed weak and in jeopardyof • Establishment of a program to ensure an adequatre allowance for loan and leased losses. • Agreement not to accept brokered depositdsin exc.
ess of 10 percent of total depositsx without OCC permission • Development of a three-year plan of operations that incorporatesd conditions of the agreement. First National Chairwoman Susma Patel said in a writteh statement that the bank has taken stepsz she believes put it in compliancd withthe agreement. She said regulatory agencies are tightening standards for lenders as theeconomgy deteriorates. “The downturn in real estate valuationw in the Florida marketis well-publicized and, as a regulatory agencies are expecting a higher standar of procedural monitoring of loands secured by commercial real estate,” she said.