Regulators order improvements at Citizens Bank of Mukwonago

Citizens Bank of Mukwonago has been told to reduce delinquent loans, maintain elevated levels of capital and take other measures to strengthen the bank, regulators disclosed Friday.
A consent order by the Federal Deposit Insurance Corp. and Wisconsin Department of Financial Institutions alleges "unsafe or unsound banking practices" by the bank. The bank neither admitted nor denied the allegations, but agreed to comply with the order and said it already has nfl jerseys completed some of the steps called for by regulators.
In a statement Friday, Citizens Bank of Mukwonago said it has been affected by the downturn in the economy over the past three years.
"Specifically, the downturn in the real estate construction market has affected our customer base, which has been a large part of the local economy in the communities we serve," the bank said.
Citizens said it has strong capital positions and money to lend.
"A number of Lions jersey the provisions in the agreement have been completed and the others are in the process of being accomplished," the bank said.
Citizens Bank of Mukwonago posted a loss of $150,000 in the second quarter after a loss of $3.3 million in the first quarter. The bank has added $11 million to reserves in the first half of the year to cover loans that could go bad, FDIC records show.
The bank said in its statement that it expects to return to profitability later this year.
Since last year, at least 29 banks Packers jersey based in Wisconsin have been given special orders by regulators to make improvements.