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KENOSHA, WISCONSIN - fdic

KENOSHA, WISCONSIN - fdic 2025

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The document is a Consent Order issued by the Federal Deposit Insurance Corporation (FDIC) and the Wisconsin Department of Financial Institutions regarding Southport Bank in Kenosha, Wisconsin. It outlines the bank's agreement to take corrective actions to address unsafe banking practices without admitting to any violations. The order mandates improvements in management, capital maintenance, loan loss allowances, lending policies, and overall financial stability. Specific requirements include retaining qualified management, conducting a management study, maintaining minimum capital ratios, and implementing strategic plans for risk reduction and liquidity management.

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To check whether the FDIC insures a specific bank or savings association: Call the FDIC toll-free: 1-877-ASK-FDIC (1-877-275-3342) Look for the FDIC official sign where deposits are received.

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