Enforcement against East Dubuque Savings Bank's parent company ends
Written by Becca Habegger, Multimedia Journalist - bio | email
DUBUQUE (KWWL) -
On Wednesday, the Federal Reserve board announced through the American Banker publication it's terminating an enforcement action against East Dubuque Bancshares, which is the holding company that owns East Dubuque Savings Bank.
The Federal Reserve's enforcement went into effect in 2010. Since then, East Dubuque Bancshares and EDSB have examined the ways they operate and lend and made staffing and office size decisions.
EDSB currently has $150 million in assets, employs 48 people and has offices in Dubuque and East Dubuque.
The bank's president Lori Thielen said, "This is very good news for EDSB, its board, employees and customers. Our efforts to recover from the difficult times we faced in 2009 and 2010 have paid off."
EDSB is a locally-owned community bank founded in 1891. It now has offices in Dubuque and East Dubuque, Ill.
Monday, September 1 2014 5:41 PM EDT2014-09-01 21:41:17 GMT
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