Natchez-based Britton & Koontz Bank has signed a written agreement with a federal bank regulator to reduce the high level of credit risk at the bank.
The more than 150-year-old nationally –chartered bank signed the order with the Office of Comptroller of Currency on Feb. 21, according to a stock filing by holding company Britton & Koontz Capital Corp.
In stock filings, the bank says it’s having increasing trouble collecting on loans, especially those made from its branches in Baton Rouge, La. Britton & Koontz, with $375 million in assets, also has branches in Vicksburg.
he OCC said the bank also wasn’t doing enough to monitor the status of large loans it had already made, and was too frequently making exceptions, according to The Associated Press. Read the rest of the story: