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.
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