Posted 6/24/2013 09:20 am
Updated 9 months ago
Federal regulators terminated an enforcement action regarding loan problems at Fidelity National Bank of West Memphis.
The supervisor agreement between the Office of the Comptroller of the Currency and the bank ended on May 9 but not made public until Friday.
The agreement, which dated back to July 20, 2011, outlined unsafe and unsound banking practices related to capital and asset quality.
Despite problem loan concerns, the $363.7 million-asset lender has remained profitable.
Fidelity National reported net income of $1.1 million during the first quarter. The bank recorded profits of $4.7 million for 2012 and nearly $4.5 million for 2011.
Fidelity National operates five locations with a staff of 56. The bank has four full-service facilities in Crittenden County, with two offices each in West Memphis and Marion and one in Hughes (St. Francis County).