UPDATE 1-Irwin enters into agreements with regulators

(Recasts, adds details, share movement)

Oct 14 (Reuters) - Bank holding company Irwin Financial Corp (IFC.N) said it will submit plans related to its liquidity, capital levels and revised business strategies to regulators as part of its agreements.

The company said five investors have agreed to buy up to $31 million of its shares in connection with a planned offering to strengthen its capital position.

Each member of the board has also agreed to invest in the company through the rights offering, it said in a statement.

In early October, Irwin Financial, a company struggling to maintain regulatory capital requirements and address credit exposure, had said it would raise $50 million in capital through a stock offering.

The company does not expect the agreements with the regulators to have a significant impact on its normal banking operations.

The company's shares fell to a low of $2.80 but pared some losses to trade down 5 percent at $2.93 Tuesday morning on the New York Stock Exchange. The stock has shed 62 percent so far this year. (Reporting by Sweta Singh in Bangalore; Editing by Deepak Kannan)