Board issues enforcement actions with Bank of the Eastern Shore and Texas Coastal Bank

The following press release was published by the Board of Governors of the Federal Reserve System on Aug. 11, 2011. It is reproduced in full below.

The Federal Reserve Board on Thursday announced the issuance of a Prompt Corrective Action Directive against Bank of the Eastern Shore (PDF), Cambridge, Maryland, a state-chartered member bank dated August 8, 2011.

The Federal Reserve Board also on Thursday announced the execution of a written agreement against Texas Coastal Bank (PDF), Pasadena, Texas, a state-chartered member bank, dated August 4, 2011.

Search of Federal Reserve enforcement actions. For media inquiries, call 202-452-2955.

Source: Board of Governors of the Federal Reserve System