Looks like Venture Bank might be running afoul of the FDIC
Regulators put squeeze on Venture Bank - Puget Sound Business Journal (Seattle):
Quote:
Federal regulators are ratcheting up pressure on beleaguered Venture Bank of Lacey, giving it 60 days to raise more capital or sell itself. In a four-page directive that was made public Friday, the Federal Deposit Insurance Corp. (FDIC) warned the Washington bank that if it doesn’t sell enough voting shares or “obligations” to boost its capital levels, it will have to merge or sell itself to another bank.
The FDIC points out that Venture’s condition continues to deteriorate and management has “not demonstrated the ability to return the bank to a safe and sound position,” the order states.
|
Just in case anyone has more than the FDIC-insured limits in there....