Another great day for CIBH CIBM Bank Cons
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Another great day for CIBH
CIBM Bank Consent Order Released |
.PrintButton a {text-decoration:none;font-size:13px;padding:0 23px 0 0;height:20px;background:url('/common/images/icons/print.gif') right top no-repeat;} .addnewsalertbutton a {height:20px;padding:0px 23px 4px 0;cursor:pointer; text-decoration:none;font-size:13px;background:url('http://uk.advfn.com/alerts/images/news_alerts_icon_small.png') right top no-repeat;} |
#article_body {text-align:justify;} #article_body p{margin:0 0 15px 0;padding:0;max-width:800px;} #article_body .articlechart p {width:360px;margin-top:10px} .articlechart {float:right;width:360px;margin:0 0 10px 20px} .articlechart h2{font-size:14px;text-align:center;margin:0;padding:0} .articlechart p {text-align:center;font-size:12px;padding:3px 0 10px 0;margin:0 #article_body .articlecharts p{text-align:center;} Bank holding company CIB Marine Bancshares, Inc. (OTCQB: CIBH) announced today that its wholly-owned banking subsidiary, CIBM Bank, received notification from the Federal Deposit Insurance Corporation and Illinois Department of Financial and Professional Regulation that the Consent Order that CIBM Bank has been operating under since April 2010 was terminated, effective March 20, 2013. "The removal of the Order is an important milestone for CIBM Bank, which reflects our improved performance over the last several quarters and our team's dedication to improving its capital position, asset quality and profitability . I am thankful for the hard work of our staff and continued support of our clients," said Charles Ponicki, President and CEO. Although the Consent Order has been terminated, CIBM Bank entered into revised regulatory requirements with the FDIC and IDFPR, effective February 14, 2013. Under the revised regulatory requirements, CIBM Bank remains subject to certain restrictions, including but not limited to maintaining a Tier 1 capital leverage ratio of 8% and Total risk-based capital ratio of 12%, as well as certain restrictions on its ability to pay dividends. CIB Marine Bancshares, Inc. is the holding company for CIBM Bank, which operates 11 banking offices in Central Illinois, Wisconsin and Indiana. More information on the company is available at www.cibmarine.com, including recent shareholder letters, regulatory financial reports (vis-à-vis a web link) and audited financial statements . FORWARD-LOOKING STATEMENTS There are inherent difficulties in predicting factors that may affect the accuracy of forward-looking statements. Stockholders should note that many factors, some of which are discussed elsewhere in this Earnings Release and in the documents that are incorporated by reference, could affect the future financial results of CIB Marine and could cause those results to differ materially from those expressed in forward-looking statements contained or incorporated by reference in this document. These factors, many of which are beyond CIB Marine's control, include but are not limited to:
These factors should be considered in evaluating the forward-looking statements, and undue reliance should not be placed on such statements. Forward-looking statements speak only as of the date they are made. CIB Marine undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Forward-looking statements are subject to significant risks and uncertainties and CIB Marine's actual results may differ materially from the results discussed in forward-looking statements. |
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