Fairfield National Bank (FNB) is no longer under an enforcement agreement with the U.S. Office of the Comptroller of the Currency (OCC), according to a letter sent to the bank’s shareholders. The federal oversight, which began in November 2024, officially ended on December 17, 2025.
The OCC had cited FNB for unsafe or unsound practices, including issues related to staffing and training, credit risk rating, credit underwriting, credit administration, loan review, allowances for credit losses, and failure to file true and correct Reports of Condition and Income. The resulting disciplinary action led to an agreement between the bank and the OCC to address these concerns.
FNB President Joey Hungerford acknowledged the milestone, stating, “Since entering the agreement in November of 2024, we have taken decisive steps to strengthen our credit practices, enhance our risk management framework and build a foundation for success.” Hungerford also credited the bank’s progress to its revamped management team, which includes the addition of Dan Vigano as Chief Lending Officer and Jason West as Chief Risk Officer. He noted that the new team has provided “deep expertise and a renewed focus on proactive leadership.”
With the resolution of the enforcement action, FNB is now poised to continue its operations with enhanced oversight and strengthened management practices.