Printer Friendly

OTS PLACES HANSEN SAVINGS BANK OF PALM BEACH GARDENS INTO RECEIVERSHIP

OTS PLACES HANSEN SAVINGS BANK OF PALM BEACH GARDENS INTO RECEIVERSHIP
 TALLAHASSEE, Fla., Jan. 10 /PRNewswire/ -- State Comptroller Gerald Lewis today authorized the U.S. Office of Thrift Supervision to place Hansen Savings Bank of Palm Beach Gardens into receivership. The Resolution Trust Corporation (RTC) was immediately appointed receiver of the institution.
 The RTC will operate the institution as Hansen Federal Savings until a buyer can be found and expects no interruption of service to customers.
 Hansen, which has only one office, opened in 1984 as PGA Savings and Loan Association.
 As of Sept. 30, 1991, the institution had assets of $56.7 million. During the last three years, it has had operating losses of nearly $3.1 million.
 Regulators attribute the losses to high overhead and low net interest income, resulting from high cost of funds.
 -0- 1/10/92
 /CONTACT: Terence McElroy of the Florida Office of Comptroller, 904-488-4844/ CO: Florida Office of Comptroller; Hansen Savings Bank of Palm Beach
 Gardens ST: Florida IN: FIN SU:


AW-SS -- FL002 -- 8574 01/10/92 10:53 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 10, 1992
Words:177
Previous Article:BG&E WARNS AGAINST IMPOSTERS POSING AS EMPLOYEES
Next Article:BOWDEN APPOINTED EXECUTIVE VICE PRESIDENT AT HARDIN'S-SYSCO FOOD SERVICES
Topics:


Related Articles
IRVINGTON FEDERAL SAVINGS & LOAN PLACED UNDER GOVERNMENT CONTROL
ALPHA-INDIAN ROCK SAVINGS, PHILADELPHIA, PLACED IN RECEIVERSHIP BY REGULATORS
OTS PLACES CALIFORNIA'S HOMEFED BANK IN RECEIVERSHIP; DEPOSITS PROTECTED
FIRST FS&LA OF RUSSELL COUNTY, ALA., PLACED IN RECEIVERSHIP BY REGULATORS
ALABAMA'S BIRMINGHAM FEDERAL IS PLACED IN RECEIVERSHIP; DEPOSITS INSURED
SEABOARD BANCORP, INC. ANNOUNCES RESULTS OF OPERATIONS FOR THIRD QUARTER
HOMESTEAD SAVINGS TO OPERATE UNDER FEDERAL GOVERNMENT CONTROL
POLIFLY SAVINGS PLACED INTO GOVERNMENT RECEIVERSHIP
REGULATORS TAKE CONTROL OF PIONEER SAVINGS, KANSAS

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters