Prompt corrective action directive against Sterling 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 Sterling Bank, Lantana, Florida, a state-chartered member bank.

A copy of the Directive is attached.

Source: Board of Governors of the Federal Reserve System