Great news for the state's second largest banks: federal regulators have released Sterling Bank from the cease and desist order that was placed on them about a year ago. This should be a clear sign that the bank is on better financial footing. The bank had raised money through a recapitalization and the bank has been performing better as of late. It is always good when a local bank is doing well providing jobs to the state and giving more options to local consumers.
Tuesday, September 28, 2010
Sterling Bank - Cease and Desist Lifted
Great news for the state's second largest banks: federal regulators have released Sterling Bank from the cease and desist order that was placed on them about a year ago. This should be a clear sign that the bank is on better financial footing. The bank had raised money through a recapitalization and the bank has been performing better as of late. It is always good when a local bank is doing well providing jobs to the state and giving more options to local consumers.
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