Treasure State Bank (TSB), a Montana-based chartered community bank, has entered into an agreement with its regulators to strengthen its financial condition and operations.
Under the agreement Treasure State Bank is required, among other things, to maintain a Tier 1 leverage capital ratio of 12%. The bank has recently raised $1.5m in additional capital with 1,474,871 shares now outstanding.
TSB’s Tier 1 leverage capital ratio is currently 10.76%. The agreement also requires that the bank reduce its level of classified and non performing loans.
Treasure State Bank’s deposits are insured by FDIC insurance to at least $250,000 per depositor. In addition, non-interest bearing transaction accounts and qualified NOW checking accounts are fully guaranteed by the FDIC for an unlimited amount of coverage under the FDIC’s Transaction Account Guarantee Program (TAGP), in which TSB is a participant.
