Fed Ends Enforcement Action Against Bank of Eufaula Following Reforms

The Federal Reserve Board has terminated its two-year enforcement action against Bank of Eufaula and SNB Bancshares Inc. following significant reforms.

The bank, based in Oklahoma, was required to address deficiencies in corporate governance, internal controls, lending, credit risk, and oversight as part of the Written Agreement entered into in 2024.

The agreement led to an independent review of management practices, improvements to loan underwriting and administration, and stronger controls over overdrafts.