CCF Holding Co. announces regulatory approval for stock bonus plan.JONESBORO, Ga.--(BUSINESS WIRE)--April 16, 1996--David B. Turner, president and chief executive officer of CCF Holding Co. (the "Corporation"), Jonesboro, Georgia, the holding company of Clayton County Federal Savings and Loan Association Federal Savings and Loan Association An institution chartered by the federal government whose primary function is to collect savings deposits and to provide mortgage loans. (the "Association"), announced today that the Corporation had received approval from the Office of Thrift Supervision The Office of Thrift Supervision (OTS) was established as a bureau of the Treasury Department in August 1989 as part of a major Reorganization Plan of the thrift regulatory structure mandated by the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) (12 U.S.C.A. to implement the Corporation's Management Stock Bonus Plan ("Plan"). The Plan intends to purchase up to 47,610 shares of Common Stock to be distributed in accordance with the Plan as approved by the stockholders at the Meeting of Stockholders held on January 23, 1996. It is anticipated that such shares of Common Stock will be purchased in open market transactions from time to time during the next six months. Alternatively, the Plan may purchase such shares directly from the Corporation's authorized but unissued common stock. The Association is a federally chartered stock savings and loan association savings and loan association, type of financial institution that was originally created to accept savings from private investors and to provide home mortgage services for the public. The first U.S. savings and loan association was founded in 1831. headquartered in Jonesboro, Georgia. The Association has three full-service branches in addition to the main office, which are all located in Clayton County, Georgia Clayton County is a county located in the U.S. state of Georgia. As of 2000, the population was 236,517. The 2006 Census estimate placed the population at 271,240 [1]. The county seat is Jonesboro6. . The Association's deposits are federally insured by the Federal Deposit Insurance Corporation Federal Deposit Insurance Corporation (FDIC), an independent U.S. federal executive agency designed to promote public confidence in banks and to provide insurance coverage for bank deposits up to $100,000. ("FDIC FDIC See: Federal Deposit Insurance Corporation FDIC See Federal Deposit Insurance Corporation (FDIC). "). The Association is a community oriented, full service retail savings and loan association offering traditional mortgage loan products. The Corporation's common stock trades on the Nasdaq Small-Cap System under the symbol "CCFH". CONTACT: David B. Turner, President and Chief Executive Officer 770/478-8881 |
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