State and federal banking regulators have again taken a struggling Lowell bank to task for failing to improve its management and oversight, particularly of its mortgage business.

The Federal Deposit Insurance Corporation and the Massachusetts Division of Banks issued a consent order against Sage Bank earlier this month requiring the institution to hire qualified management, rein in the growth of its mortgage business and increase its capital.

“At a minimum, the bank’s management shall include: a chief executive officer with proven ability in managing a bank of comparable size and complexity; a secondary market lending officer with appropriate level of experience and ability in managing mortgage banking operations,’’ the consent order states.

This is the small community bank’s second order in two years. Regulators also hit the bank with a consent order in December 2014.

Sage Bank, which has $156 million in assets, has gone through several leadership changes in recent years, and in 2015 agreed to spend $1.2 million to settle allegations by the US Department of Justice that it charged African-American and Hispanic borrowers more for their home loans than white applicants.

The bank declined comment, but provided a copy of an e-mail that chairman Ken Bishop sent employees Tuesday in which he noted examiners did not find any problems with the quality of the bank’s loans. He also said the December order replaces the bank’s 2014 agreement with regulators.

However, the order is an “acknowledgment that even as we have taken steps to tighten our policies and improve on our plans to reduce overall risk, there is more we can and should do,’’ Bishop wrote. “Sage Bank can and will take the necessary steps to demonstrate to our regulators that the Consent Order can and should be lifted.’’

Deirdre Fernandes can be reached at deirdre.fernandes@globe.com. Follow her on Twitter @fernandesglobe.