First National Bank of Pasco Enters a New Chapter of Strength, Stability, and Strategic Growth
DADE CITY, FL, UNITED STATES, August 31, 2026 /EINPresswire.com/ — First National Bank of Pasco announced today that the Office of the Comptroller of the Currency (“OCC”) has terminated the Formal Agreement entered with the Bank on September 18, 2025. The OCC formally terminated the Agreement through Order No. AA-SO-2026-37, dated July 9, 2026. The agency publicly announced the termination on August 20, 2026.
In its termination order, the OCC stated that the safety and soundness of First National Bank of Pasco and its compliance with laws and regulations no longer require the continued existence of the Agreement. The termination occurred less than 10 months after the Agreement was established.
“This is an important milestone for First National Bank of Pasco and a testament to the extraordinary commitment of our Board of Directors, executive leadership team and employees,” said Paula O’Neil, Ph.D., President and Chief Executive Officer. “Our team approached this process with urgency, discipline and a shared commitment to building an even stronger organization. We are grateful for the dedication of everyone who contributed to this successful outcome.”
Throughout the process, First National Bank of Pasco strengthened its corporate governance, regulatory compliance, internal controls, risk management and strategic planning. These improvements have established a stronger operational foundation designed to support the Bank’s long-term stability and responsible growth.
“We did more than address a regulatory agreement,” O’Neil continued. “We used this opportunity to examine our organization, strengthen our systems and reinforce a culture of accountability and continuous improvement. First National Bank of Pasco is stronger, more focused and well-positioned to serve our customers and communities for generations to come.”
With the Formal Agreement terminated, the Bank is entering its next chapter with a renewed focus on strengthening customer relationships, enhancing its banking products and technology, supporting local businesses and contributing to the economic vitality of Pasco County and the greater Tampa Bay region.
“Our future is rooted in the same values that have guided First National Bank of Pasco for over 40 years: personal service, trusted relationships and an unwavering commitment to the communities we serve,” O’Neil added. “We are thankful for the confidence of our customers, shareholders and community partners. We look forward to moving ahead together with strength, stability and optimism.”
About First National Bank of Pasco: Organized in 1986, First National Bank of Pasco is a national banking association with approximately $300 million in assets, headquartered in Pasco County, Florida. With its principal banking office in Dade City, Florida, and three additional Florida branch offices in Zephyrhills (2) and Lutz (1), First National Bank of Pasco provides a powerful suite of competitive, quality products and services that distinguish it as the premier provider of financial services to customers nationwide.
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