Fieldpoint Private Bank & Trust agreed to a written agreement with regulators that requires the Greenwich, Conn., bank to improve in areas such as funding, liquidity, budgeting and strategic planning.
The $1.4 billion-asset bank, under the agreement with the Federal Reserve Bank of New York and the Connecticut Department of Banking, agreed to add and maintain “sufficient” capital. It must also obtain regulatory approval before buying back stock and declaring dividends.
Fieldpoint must submit written reports to regulators in the next 90 days, along with regular progress reports.