Santa Clara Valley Bank, which received $2.9 million through the Troubled Asset Relief Program in February 2009, received a cease-and-desist order from the OCC on Oct. 26. The Santa Paula, Calif.-based bank, which has three offices, had a net loss of $406,000 through the first half of the year.
The order requires the bank to develop a strategic plan, boost its capital ratios, implement an internal audit program, and address its problem assets, among other provisions.
The order said the bank, which has 55 offices, was not meeting capital levels that had been established in August 2009.
Now, regulators have ordered Integra to reach a total risk-based capital of at least 11.5 percent and a Tier 1 capital ratio of at least 8 percent.
As of June 30, its total-risk based capital ratio was 8.33 percent, and its Tier 1 risk-based capital was at 7.02 percent, according to regulatory records.
The bank is also required to develop a reasonable plan that would explain how it could reach those levels.
Through the first half of the year, the bank lost more than $60 million.