Cease and desist order against Pierce County Bancorp and Pierce Commercial Bank

The following press release was published by the Board of Governors of the Federal Reserve System on Dec. 7, 2009. It is reproduced in full below.

The Federal Reserve Board on Monday announced the execution of a consent Cease and Desist Order by and among Pierce County Bancorp, Tacoma, Washington, a registered bank holding company, Pierce Commercial Bank, a state chartered member bank, the Federal Reserve Board, and the Washington State Department of Financial Institutions.

A copy of the Written Agreement is attached.

Source: Board of Governors of the Federal Reserve System