The Federal Reserve Board issued three enforcement actions against community banks and their holding companies on Thursday.

The central bank issued a prompt corrective action against the $659 million-asset First Commercial Bank of Florida in Orlando. The Fed said that it determined that as of July 30, the state-chartered bank was significantly undercapitalized.

Under the order, the bank must increase its equity, enter into a contract to be acquired, or take other necessary steps to raise capital within 45 days. In the meantime, the Fed restricted the bank from making any capital distributions, including paying dividends, without approval of the Federal Reserve Bank of Atlanta.

Separately, the central bank entered into a written agreement with CCF Holding Co. of Jonesboro, Ga., the holding company of the $410 million-asset Heritage Bank. It ordered CCF to take the appropriate steps to serve as a source of strength for the bank. The firm may not pay dividends or pay principal on subordinated debt or trust-preferred securities without approval of the Fed.

Finally, the Fed entered into a written agreement with Omega Capital Corp. of Centennial, Colo., the holding company of the $132.8 million-asset Front Range Bank of Lakewood.

The central bank ordered the holding company to serve as a source of strength for the bank and forbid it from paying dividends without the Fed's prior approval.

It also prohibited Omega and any nonbank subsidiary from issuing any debt or purchasing or redeeming any shares of stock without Fed approval.

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