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One Wilmington bank may be in trouble

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Federal regulators say one Wilmington bank is in trouble. The exact words they use about Cooperative Bank are “troubled condition”, which means the bank is now subject to restrictions on its asset growth, capital distributions and management fees.

Cooperative interim CEO Todd Sammons said the classification is mostly administrative and means almost nothing to customers.

He said customers will still have access to their money and be able to conduct business as usual.

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The exact words they use about Cooperative Bank are “troubled condition”, which means the bank is now subject to restrictions on its asset growth, capital distributions and management fees.

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