Ohio bank shows ‘deficiencies’ in exam, sparking enforcement order

An Ohio bank holding company, and its bank, are under an enforcement order by the Federal Reserve after a recent examination found “certain deficiencies” at the bank, the agency said Tuesday.

Marblehead Bancorp, which owns and controls Marblehead Bank – both of Marblehead, Ohio – are subject to the order. According to the Fed, the Sept. 18 exam of the bank uncovered the deficiencies. However, the regulator provided no additional details of those shortcomings in its order.

Federal Reserve Board issues enforcement action with Marblehead Bancorp and Marblehead Bank