Strict rules lifted for Home Savings holding company

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.

WKBN 27 First News provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language or racial slurs, will be banned. No links will be permitted. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s