Saturday, Apr 21, 2018
One of America's Great Newspapers ~ Toledo, Ohio


Fed lifts sanctions on Metamora bank

The Federal Reserve Board yesterday said it has terminated enforcement action it had imposed two years ago against Metamora Bancorp Inc., the holding company that controls Metamora State Bank.

The action was taken Dec. 10, 2002. In its order, the Federal Reserve instructed the bank to enact several changes, including an independent review and restructure of management, improved loan policies, better procedures to cover loan losses and maintain sufficient capital, and better procedures for fund transfers.

A Federal Reserve spokesman would not comment on the case.

Metamora State Bank has branches in Metamora and in Sylvania. Fred Mossing, the bank's president and chief executive, was unavailable for comment.

Click to comment

Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem?

Temporibus autem quibusdam et aut officiis debitis aut rerum necessitatibus saepe eveniet.

Copyright © 2018 Toledo Blade

To Top

Fetching stories…