Strategic Capital Bank censured over 'unsafe' practices

CHAMPAIGN – Federal and state regulators have ordered Champaign-based Strategic Capital Bank to stop engaging in what they call "unsafe or unsound banking practices."

On Aug. 14, the Federal Deposit Insurance Corp. and the Illinois Department of Financial and Professional Regulation issued a "cease-and-desist order" against the bank, prohibiting it from increasing total assets, demanding that it increase its capital and barring it from accepting or renewing brokered deposits.

Also on this date

• Provena Covenant Medical Center loses tax exemption again
• Budget cuts to close local state parks, historic sites
• Mediacom delivers good news for Big Ten football fans
• Champaign school district to close Columbia Center
• Free health clinic set to reopen on Sept. 9
• State road construction will be suspended for weekend
• White Horse Inn set to reopen
• Urbana High School freshmen begin learning the ropes
• Champaign district, teachers both ask for federal mediator
• Obituaries

» More