SWS Group announces termination of cease and desist order

theflyonthewall.com

SWS Group announced that the Office of the Comptroller of the Currency has lifted the Cease and Desist Order under which the company's banking subsidiary, Southwest Securities, FSB, has been operating since February 2011. "We are very pleased that the OCC has recognized the hard work our Bank team has done to reduce classified assets and improve the credit quality of our loan book while maintaining profitability," said James H. Ross, President and CEO of SWS Group. "This important milestone demonstrates the effectiveness of our efforts to build Southwest Securities, FSB into a stronger, more diversified bank. We remain focused on implementing our plans to expand the Bank's role as a leading lender throughout the markets we serve."

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