LandMark Bank enters into agreement with Fed

By JENNIFER RICH - jrich@bradenton.com

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BRADENTON — LandMark Bank has entered into a written agreement with the Federal Reserve to comply with a number of oversight issues related to loan concentrations, non-performing loans, asset improvement and capital planning steming from a bank examination in June.

The letter of agreement requires 10 written plans as well as the setting up of a compliance committee with members of the bank’s board of directors to oversee compliance of the agreement.

“We have been a very conservative run organization and we fully intend to comply with all the requirements in the agreement,” said Thomas Quale, president and chief executive officer of LandMark Bank of Florida, which has branches in Manatee and Sarasota.

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