BANKING/FINANCE

Approving new branch offices is an important power for regulators of both banks and savings and loans. But consent is almost routine.

Nevertheless, Lincoln Savings in Irvine found that its plans to open an office in Thousand Oaks early next year will have to be put on hold.

In an unusual move, state regulators denied the S & L’s request to approve the new office. The denial is “an occurrence out of the norm,” acknowledged William Davis, chief deputy commissioner of the state Department of Savings & Loan. But he declined to elaborate on why the agency rejected the request.

Lincoln executives could not be reached for comment. A spokeswoman said Lincoln will “try to find out what the concerns are” and will appeal the decision.

Davis said “no connection” exists between the denial and regulatory examinations of Lincoln.

Lincoln was the subject of a bitter two-year examination by federal regulators operating out of San Francisco. In resolving the battle, regulators in Washington removed federal supervisors in San Francisco as overseers of Lincoln and put the S & L under the purview of federal agents in Seattle.

Lincoln is undergoing another routine examination by state and federal regulators.