Board issues enforcement actions with 1st Financial Services Corporation, Highlands Bankshares, Inc. and Highlands Union Bank, and Persons Banking Company, Inc.

The following press release was published by the Board of Governors of the Federal Reserve System on Oct. 19, 2010. It is reproduced in full below.

The Federal Reserve Board on Tuesday announced the execution of the following enforcement actions: 1st Financial Services Corporation (57 KB PDF), Hendersonville, North Carolina Written Agreement dated Oct. 13, 2010 Highlands Bankshares, Inc. and Highlands Union Bank (127 KB PDF), both of Abingdon, Virginia Written Agreement dated Oct. 13, 2010 Persons Banking Company, Inc. (62 KB PDF), Macon, Georgia Written Agreement dated Oct. 14, 2010 Search of Federal Reserve enforcement actions.

Source: Board of Governors of the Federal Reserve System