Idaho First Bank Reports Termination of Consent Order
04 Septembre 2013 - 8:49PM
Marketwired
Idaho First Bank (OTCQB: IDFB) reported it was notified by the
Federal Deposit Insurance Corporation ("FDIC") and the Idaho State
Department of Finance ("DOF") that the Consent Order dated February
10, 2010, between the FDIC, DOF and Idaho First Bank was terminated
as of August 29, 2013.
Chairman of the Board, Mark Miller stated, "We are happy to
receive this communication. We worked closely with the regulatory
authorities during this difficult time and appreciate this
recognition of the hard work by staff, management, and Board to
improve the Bank's financial condition." He continued by saying,
"We also appreciate the commitment by our shareholders and our
customers for working with us during this time."
"The Bank, with the removal of the Consent Order, is in a
position to capitalize on the improvements we have made during the
recession. We are leaner, more efficient, and will continue to meet
our clients' banking needs," said Greg Lovell, President and CEO.
He further stated, "We have raised additional capital and exceed
the regulatory definition of 'well-capitalized.' However, our
continued goal is to achieve a ten percent Tier One Capital
ratio."
The Bank will continue to operate under an informal agreement
with the FDIC and DOF. The termination of the formal order however
is a reflection of the improvement in financial performance and
diligence by the Board of Directors and staff in addressing the
terms of the Consent Order while providing high levels of client
service to its customers.
Idaho First Bank is a state-chartered commercial bank that
opened for business in October 2005. Its headquarters are in
McCall, Idaho, with a loan production office in downtown Boise.
This release contains "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995
("PSLRA"). Such forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially
from those projected. These risks and uncertainties include, but
are not limited to, economic conditions, the regulatory
environment, loan concentrations, vendors, employees, technology,
competition, and interest rates. Readers are cautioned not to place
undue reliance on the forward-looking statements. Idaho First Bank
has no obligation to publicly update the forward-looking statements
after the date of this release. This statement is included for the
express purpose of invoking PSLRA's safe harbor provisions.
Contacts: Greg Lovell 208.630.2001 Don Madsen 208.947.0430
Peak Bancorp (PK) (USOTC:IDFB)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024
Peak Bancorp (PK) (USOTC:IDFB)
Graphique Historique de l'Action
De Juin 2023 à Juin 2024