Prompt corrective action directive against Pierce Commercial Bank

The following press release was published by the Board of Governors of the Federal Reserve System on June 15, 2010. It is reproduced in full below.

The Federal Reserve Board on Tuesday announced the issuance of a Prompt Corrective Action Directive with the consent of Pierce Commercial Bank, Tacoma, Washington, a state-chartered member bank.

A copy of the Directive is attached.

Source: Board of Governors of the Federal Reserve System