Federal Reserve Board issues enforcement action with employee of Bank of Eufaula and S N B Bancshares, Inc

FEDERAL RESERVE ·

Skip to main content An official website of the United States Government Official websites use .gov A .gov website belongs to an official government organization in the United States. Secure .gov websites use HTTPS A lock ( ) or https:// means you've safely connected to the .gov website. Share sensitive information only on official, secure websites. Back to Home Board of Governors of the Federal Reserve System Stay Connected Federal Reserve Facebook Page For release at 11:00 a.m. EDT Share The Federal Reserve Board on Thursday announced the execution of the enforcement action listed below: Consent cease-and-desist order against Jason Burns President and director of Bank of Eufaula and director of S N B Bancshares, Inc., Eufaula, Oklahoma Unsafe Lending Practices For media inquiries, please email [email protected] or call 202-452-2955.

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The Federal Reserve Board issued a consent cease-and-desist order against Jason Burns (President and director of Bank of Eufaula and director of S N B Bancshares, Inc.). The action was taken for unsafe lending practices and signals heightened supervision of the individual and the affiliated banks. The sanction directly pressures the credibility, capital ratios, and profitability of Bank of Eufaula and S N B Bancshares, and highlights regulatory risk across the regional banking sector. As a result, demand for compliance, legal, and risk-management services is likely to rise, loan underwriting will tighten, and credit supply may slow.

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