<img src=" http://www.joplinglobeonline.com/images/zope/business.gif" Border=0> Feds take enforcement action against Pittsburg bank, shut down a Paola, Kan., bank

March 24, 2009 02:13 pm

— Federal regulators have called for a Pittsburg bank to strengthen its oversight measures in a recent enforcement action.
The agreement between University National Bank, of Pittsburg, and the Office of the Comptroller of the Currency also called for the bank’s board of directors to: reduce the direct lending activity of the bank president and senior lending officer; authorize the bank president to hire additional lending staff; and to improve its underwriting standards for construction loans.
The agreement was reached in January but publicly announced late last week.
In a separate action, regulators late last week also shut down the ailing TeamBank National Association, which is based in Paola, Kan., and operates branches in Lamar, Nevada and Parsons, Kan. TeamBank’s deposits were assumed by Springfield-based Great Southern Bank, which reopened the branches Saturday.