Prompt corrective action directive against Bank of Elmwood

The following press release was published by the Board of Governors of the Federal Reserve System on July 23, 2009. It is reproduced in full below.

The Federal Reserve Board on Thursday announced the issuance of a consent Prompt Corrective Action Directive against Bank of Elmwood, Racine, Wisconsin, a state chartered member bank.

A copy of the Directive is attached.

Source: Board of Governors of the Federal Reserve System