Wednesday, February 8, 2012

Alliance Bank still 'very strong,' CEO says

Despite the announcement of a consent order with the FDIC, Alliance Bank and Trust CEO Dan Ayscue said in an interview Wednesday that the bank remains "very strong" in capital and liquidity, and says the bank has already made a lot of progress toward meeting the terms of the agreement.

On Tuesday, the Gastonia-based bank announced in a securities filing that a recent agreement with the FDIC mandates the bank to review its management team, create a plan to resolve problem loans and maintain capital levels.

Ayscue said that he is not surprised that regulators are exercising increased oversight, but that the bank has already made progress in the past year and the consent order will help the bank improve more.

In the first quarter, the period regulators looked at, past-due loans made up 9 percent of the bank's total, according to the bank's quarterly securities filing. That ratio has now come down significantly, Ayscue said.


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"The quality of our loan portfolio has improved drastically over the last year," he said. "We have been doing a lot of work to get where we need to be."
more here: http://www.charlotteobserver.com/2012/02/08/2993428/alliance-bank-under-fdic-order.html#storylink=cpy

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