The U.S. Federal Reserve on Tuesday announced it has reached a written agreement with Omni Financial Services Inc. that requires the company to devise a plan to boost its capital ratios and those of a small Georgia bank it controls.

Omni is the parent of Atlanta-based Omni National Bank.

Under the agreement, the Fed also is requiring Omni to provide monthly progress reports and to seek approval for dividend payments and the reimbursement executive expenses of more than $500 a month.

Shares of Omni Financial once traded on the Nasdaq, but the company was delisted in September.

-By Meena Thiruvengadam, Dow Jones Newswires; 202-862-6629; meena.thiruvengadam@dowjones.com