BANKING

Santa Monica Bank Faces Order: Joe L. Walling, chairman of the board of Santa Monica Bank, announced that the bank will be asked to sign a cease and desist order by the FDIC. The order may contain certain restrictions on the bank’s operations, such as requirements that it reduce the level of classified assets, maintain an adequate loan loss reserve and required capital levels, revise written loan policies and comply with additional periodic reporting requirements, as well as a requirement for regulatory approval of dividends. The bank will not pay a first-quarter dividend.