Fed Bans Dividends at Culver City Bank

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The Federal Reserve Board said on Thursday it had ordered two small bank holding companies in California and Maryland to suspend dividends and shore up capital.

In separate written agreements, the Fed said Alliance Bancshares California and AmericasBank Corp must seek permission from the Fed and state banking authorities to pay any dividends.

Culver City-based Alliance Bancshares had $1.1 billion in assets and a net loss of $15.8 million in the second quarter.



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