LOS ALAMOS, N.M.–November 7, 2017–Trinity Capital Corporation (“TCC”), the parent company of Los Alamos-based Los Alamos National Bank (“LANB” or the “Bank”), today announced that the Office of the Comptroller of the Currency (the “OCC”) has terminated the consent order that the Bank has been operating under since December 17, 2013. The effective date of the termination was November 3, 2017.
The consent order focused on areas of credit administration, credit underwriting, internal controls, compliance and management supervision. Additionally, the consent order required that the Bank maintain certain capital ratios and receive approval of the OCC prior to declaring dividends. The Bank is no longer deemed to be in “troubled condition” as a result of the termination of the consent order.
“This is a significant breakthrough for the Bank,” stated Jim Goodwin, Chairman of the Board of TCC and LANB. “We have undergone significant challenges and I am proud of our team for accomplishing what we set out to do. We are now ready to move forward by building on these accomplishments.”