OP bank agrees to regulatory order

Overland Park-based Hillcrest Bank has agreed to a cease and desist order by state and federal regulators.

The $1.9 billion bank agreed to the order by the Kansas bank commissioner and the Federal Deposit Insurance Corp. on Oct. 21.

The FDIC made public the order today.

The 25-page order said the bank is engaging in unsafe and unsound banking practices, including operating with inadequate capital for the types of assets it holds and employing imprudent lending and lax collection practices.

Andover-based Equity Bank acquired Hillcrest's two Wichita branches in 2005.