Board issues enforcement actions with Northern States Financial Corporation and Tidelands Bancshares, Inc.

The following press release was published by the Board of Governors of the Federal Reserve System on March 22, 2011. It is reproduced in full below.

The Federal Reserve Board on Tuesday announced the execution of the following enforcement actions: Northern States Financial Corporation (78 KB PDF), Waukegan, Illinois Written Agreement dated March 17, 2011 Tidelands Bancshares, Inc. (64 KB PDF) Mount Pleasant, South Carolina Written Agreement dated March 18, 2011 Search of Federal Reserve enforcement actions.

Source: Board of Governors of the Federal Reserve System