The Federal Reserve Board on May 3 terminated the cease and desist order issued by the Office of Thrift Supervision against Plymouth Meeting, Pa.-based Continental Bank Holdings Inc. on Feb. 28, 2011, according to a May 6 news release.
Under the consent order, the company was prohibited from engaging in any “unsafe or unsound” banking practices, and was asked to achieve and maintain a Tier 1 core capital ratio of at least 8% and a total risk-based capital ratio of at least 12%, among other restrictions.
Follow this link to read this press release