A Myrtle Beach Bank has come to an agreement with the federal government to take steps in order to improve the bank's administrative procedures.
As a National Bank, Beach First is regulated by the Office of the Comptroller of the Currency.
According to Walt Standish, Beach First's Chief Executive Officer, an audit by the comptroller earlier this year led the government to ask beach first to change the way it does business.
The agreement requires Beach First to change many administrative procedures as well as changes in staffing, underwriting, liquidity and other areas.
Just Tuesday Beach First announced it's third quarter earnings should come in at around $200,000.
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