Springfield bank warned about lending practices

Wednesday, May 27, 2009 | 9:09 a.m. CDT; updated 10:33 a.m. CDT, Wednesday, May 27, 2009

SPRINGFIELD — Government regulators are ordering officers of a Springfield bank to halt unsound and unsafe banking practices.

The Comptroller of the Currency of the U.S. Department of the Treasury filed a cease-and-desist order last month against Citizens National Bank of Springfield.

The document included a long list of changes in how the bank does business, particularly in how it approves real estate loans.

Frank Hilton, the bank's chairman and chief executive officer, said the bank has agreed to comply with the changes in the order and customers won't see any change in the bank's day-to-day operations.

Hilton called the order "regulatory overkill" but chalked it up to tightened oversight following other bank failures around the country.


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