Ohio lawmakers have rejected a bail-out plan.
By a 16-16 vote, the Ohio Senate rejected a plan by Chemical New York to acquire Home State Savings Bank of Cincinnati. The Ohio House approved the deal earlier in the day by a wide margin. Senate lawmakers objected because $125 million in public funds would have been needed to consummate the sale. Home State, which has 33 branches, was the S&L; that failed in March, setting off a run at several of the state’s privately insured S&Ls.; Supporters of the bill said they may try to revive the measure for another vote.
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