Fieldpoint Private Bank & Trust in Greenwich, Conn., which is operating under a written agreement with the Federal Reserve, raised $5 million in a private placement.
Fieldpoint Private Holdings, the parent company of the $1.4 billion-asset bank, raised the capital by selling stock on Oct. 7, according to data compiled by Performance Trust Capital Partners.
The written order, disclosed last month, requires the bank to improve in areas such as funding, liquidity, budgeting and strategic planning. The bank agreed to add and maintain “sufficient” capital and obtain regulatory approval before buying back stock and declaring dividends.
Fieldpoint must submit written reports to regulators, along with regular progress reports.