U.S. Regulators Seize Big Florida Thrift: They...
From Times Staff and Wire Reports
U.S. Regulators Seize Big Florida Thrift: They closed long-troubled Florida Federal Savings Bank and created a new institution to assume the deposits and certain assets and liabilities of the $4-billion institution. The Office of Thrift Supervision said the St. Petersburg-based S&L; was operating in an “unsafe and unsound condition,” with insufficient capital and no prospect of raising cash without government aid.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
