Castle Bank


One of many divisions of the US Department of the Treasury is the Office of the Comptroller of the Currency (OCC). OCC is charged with ensuring a banking system that is competitive and sound, and this has been a busy year, especially in Illinois.

The OCC website offers an Enforcement Action Search. Feeding in “DeKalb, Illinois,” turns up a Formal Agreement (FA) with Castle Bank:

The Comptroller has determined that the Bank has engaged in unsafe and unsound banking practices relating to its credit underwriting and administration, commercial real estate risk management, problem loan management, credit risk ratings, allowance for loans and lease losses, and Bank Secrecy Act program.

The FA was signed in June.