Regulatory Alerts2025-05-29 | Conditional Approval 1340Added
Conditional Approval 1340 — Application by The First National Bank of Moody for a Substantial Change in Asset Composition
The Office of the Comptroller of the Currency conditionally approves The First National Bank of Moody's application to effect a substantial change in asset composition, contingent upon North Texas Bancshares, Inc. contributing $12,000,000 to the bank's capital. The approval imposes conditions requiring the bank to maintain a tier 1 leverage ratio of at least 8.0 percent and a total risk-based capital ratio of at least 12 percent for three years, and to file an Interagency Biographical and Financial Report for new directors or officers for two years. The bank must provide 60 days' prior written notice before significantly deviating from its business plan and must consummate the transaction within six months of the letter date, or the approval terminates.