meta_id 3551336

On October 2, 2026, the Federal Reserve Board announced a Written Agreement with Ontario Bancorporation, Inc. (Ontario), a bank holding company based in Ontario, Wisconsin, which owns Bank of Ontario, a state-chartered nonmember bank. The agreement, executed on September 24, 2026, follows deficiencies identified during an offsite review conducted by the Federal Reserve Bank of Chicago (Reserve Bank) and addresses unsafe or unsound practices at the institution. The Written Agreement requires Ontario to act as a source of financial and managerial strength to Bank of Ontario under Section 38A of the Federal Deposit Insurance Act (FDI Act) and Regulation Y of the Board of Governors. Key requirements include: submission of a capital plan within 60 days addressing the adequacy of the Bank's capital, considering adversely classified credits, allowance for credit losses, asset growth, and earnings projections; submission of cash flow projections within 30 days for the remainder of 2026 and annually thereafter; and an enhanced capital contingency plan addressing both Ontario's and the Bank's short-term and long-term capital needs. The agreement imposes immediate restrictions on Ontario's ability to declare or pay dividends, engage in share repurchases, or make capital distributions without prior written approval from the Reserve Bank and the Director of Supervision and Regulation. Ontario must also obtain prior written approval before incurring, increasing, or guaranteeing any debt. Additionally, Ontario must comply with notice provisions when appointing new directors or senior executive officers, and must submit quarterly progress reports to the Reserve Bank detailing compliance efforts. The agreement remains effective and enforceable until modified or terminated in writing by the Reserve Bank.