Coastal lender Cooperative Bankshares has become the second Wilmington bank in as many months to face a cease-and-desist order from the Federal Deposit Insurance Corp.
The order from the U.S. banking regulator requires Cooperative Bankshares (Nasdaq: COOP), the parent of Cooperative Bank, to improve capital levels, develop a management plan, and hold off on dividend payments until it receives regulatory approval, among other actions.
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