A 2025 formal agreement over the unsafe and unsound practices of an Illinois bank has been extended by the Federal Reserve to maintain the soundness of its bank holding company, the agency said Thursday.
The Fed said the agreement it reached with First National Bank & Trust Co. (FNBT), Clinton, Ill., issued in July 2025, now includes a bank holding company owned by TS Banking Group, Inc., Treynor, Iowa. That company is TS Contrarian Bancshares, Inc., also of Treynor, Iowa, which owns FNBT.
The Fed noted that FNBT entered into a formal agreement with the Office of the Comptroller of the Currency (OCC) last year. According to that agreement, the OCC said it found “found unsafe or unsound practices, including those relating to capital, strategic planning, liquidity, and contingency funding planning.”
“The Bank acknowledges such concerns and is working to implement proposed changes,” the OCC said in 2025.
Thursday’s agreement noted that the bank holding companies are working to “maintain the financial soundness of the Companies so that they may serve as a source of strength to the Banks.”
No additional details were provided.
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