AMERICAN SAVINGS CONSENTS TO ENTRY OF CAPITAL DIRECTIVE
AMERICAN SAVINGS CONSENTS TO ENTRY OF CAPITAL DIRECTIVE MIAMI, Jan. 9 /PRNewswire/ -- American Savings of Florida, F.S.B.
(NASDAQ: ASLA) has consented to the entry of a capital directive by the Office of Thrift Supervision ("OTS"). Consenting to the capital directive was a condition to the previously announced acceptance by OTS of American Savings' capital plan.
Under the terms of the capital directive, American Savings must "make diligent and good faith efforts" to seek additional capital to bring it into compliance with applicable capital standards, and, on and after July 1, 1992, must comply and maintain compliance with those capital standards. In addition, American Savings must engage only in activities of the types and at the dollar levels specified in its capital plan, may not increase its assets, and its board of directors must review and report to OTS periodically, among other things, the status of American Savings' compliance with its capital plan. -0- 1/9/92 /CONTACT: Alan B. Goldstein, executive vice president and general counsel of American Savings of Florida, F.S.B., 305-770-2093 (ASLA) CO: American Savings of Florida, F.S.B. ST: Florida IN: FIN SU:
JJ-AW -- FL009 -- 8348 01/09/92 15:37 EST
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|Date:||Jan 9, 1992|
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