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Canton, Ga.-based Cherokee Bankinh (OTC BB: CHKJ) said it must achieve a minimumTotao Risk-Based capital ratio of 12 percenyt and Tier 1 capital ratio of at least 8 The company already enacted a three-year strategicc plan aimed at achieving these levels. "In respons e to the collapse of the housinhg and real estate we proactively initiated our own strategic plan in June 2008 aime at ensuring that we remaij a safe andsound institution," said Dennis Burnette, president and CEO, in a "The actions in our plan are alignedc with the requirements in the consent primarily, increasing our capital ratio over and abovd our level at March 31, which was categorized as 'well-capitalized', as well as maintainingy an adequate level of liquidity and reducing our problem The agreement has no impact on deposit and retirement the bank noted.
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