Strict rules lifted for Home Savings holding company

Money-Generic-3

The holding company of Home Savings and Loan is getting financially stronger and the Federal Reserve has noticed.

Tougher rules implemented in August of 2008 were lifted last week. The rules covered how the bank operated, specifically with regards to how much risk it takes in making loans, plus how much money it has in reserve.

United Community Financial Corp. also raised $47 million through a capital campaign, which was completed in June.

United Community has an understanding with federal regulators that it will not pay dividends, repurchase shares or take on debt without prior approval.

blog comments powered by Disqus