NM bank holding company released from enforcement action after five years

A $1.3 billion-in-assets, New Mexico bank holding company has had a five-year-old enforcement action against it by the Federal Reserve terminated, the central bank said Tuesday. In a release, the Fed said it had terminated the 2013 enforcement action against Trinity Capital Corp. of Los Alamos (with $1.28 billion in assets). Under the action, the BHC was restrained from: declaring or paying any dividends without the prior written approval of the Federal Reserve Bank of Kansas City; could not directly or indirectly take dividends or any other form of payment representing a reduction in capital from the Reserve Bank without the prior written approval of the Reserve Bank; and Trinity and its nonbank subsidiaries could not make any distributions of interest, principal, or other sums on subordinated debentures or trust preferred securities without the prior written approval of the Reserve Bank and its director of the Division of Banking Supervision and Regulation.

Federal Reserve Board announces termination of enforcement action