(source: Federal Reserve) TCSB BANCORP, INC. of Traverse City, Michigan has been sanctioned by the Federal Reserve – likely for letting its reserves fall to unacceptable levels. The releases from the Federal Reserve never list why and inforcement action is occurring – only what actions must be taken. Among the items in the action, TCSB cannot (without Federal Reserve approval) incur debt and make distribution of dividends. TCSB has been given 30 days to come up with a plan to get healthy.