Another day, another order

Bank regulators are handing out enforcement orders like downtown meter maids issue parking tickets.

The latest Gulf Coast bank to get a “better shape up” letter: First Community Bank of Southwest Florida in Fort Myers. Among other stipulations, regulators want First Community to — surprise! — beef up its capital. The order was dated June 15, but only recently published by the Federal Deposit Insurance Corp.

The bank's parent company, Southwest Florida Community Bancorp, plans to sell its remaining 37% stake in Sanibel Captiva Community Bank. So far, it has sold about $1 million worth of the stock of the island bank and it plans to raise an additional $6.5 million by selling the remaining stake, says David Hall, president and chief operating officer of the Fort Myers-based holding company.

Hall says First Community also plans to package and sell some loans to raise additional capital. Under the agreement with regulators, the bank has 120 days to comply.