Anchor Commercial Given 90 Days To Raise Money or Be Sold

The Federal Reserve System has deemed Anchor Commercial Bank in Juno Beach, FL, undercapitalized and has yet to submit it an acceptable capital restoration plan as required.

The Fed issued the bank a “Prompt Corrective Action Directive,” which gives it 90 days to increase its equity through a new capital raise or enter into a sale or merger with another bank. Barring those outcomes, the Fed could “take other necessary measures.”

Until it does…
South Florida Commercial Real Estate News From CoStar Group