The deal has been finalized in accordance with the conclusions of the OCC’s Report of Examination for the examination period ended 31 March 2011.
After the OCC findings, the Board of Directors and the Management of the bank have worked to provide necessary support to meet the concerns of the agreement, said the Bank.
According to Britton & Koontz Bank, its entry into the agreement will not affect its ‘well-capitalized’ status, albeit the Bank has approved to the OCC establishing higher individual minimum capital ratios for the Bank.
Under the agreement, the bank is required to maintain a Tier 1 capital to adjusted total assets ratio of 8% and a total risk-based capital to risk-weighted assets ratio of 12%. As at 31 December 2011, the bank maintained the said ratios at 10.91% and 19.22% respectively.
