Office of Thrift Supervision

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FOR RELEASE at 12:00 P.M. EST For further information
Friday, February 25, 2000 Contact: Ella P. Allen
OTS 00-24 202/906-6924

OTS Releases January Enforcement Statistics

WASHINGTON, D.C., Feb. 25, 2000 -- The Office of Thrift Supervision (OTS) reported today that it completed five enforcement actions in January 2000.

For the month of January there were:

Distribution among the five OTS regions was as follows:

  NE SE Central Midwest West Total
Removal and/or Prohibition  0  0    0     0   0   0
Cease and Desist Order  0  0    1     0   0   1
Prompt Corrective Action  0  0    0     0   0   0
Supervisory Agreement  0  0    2     1   0   3
Civil Money Penalties  0  0    1     0   0   1
Total  0  0    4     1   0   5

The following orders were issued in January:

  1. Jeffrey L. Gendell and Tontine Management, L.L.C., institution-affiliated parties of Eagle Bancgroup, Bloomington, Il., stipulation and consent to the issuance of an order to cease and desist for affirmative relief and an order of assessment of civil money penalty, dated January 27, 2000.
  2. Board of Directors, Lincoln Savings and Loan Association, Ironton, Ohio, supervisory agreement, dated January 6, 2000.
  3. Union Savings Bank, Cincinnati, Ohio, supervisory agreement, dated January 18, 2000.
  4. Heartland Bank, St. Louis, Mo., supervisory agreement, dated January 27, 2000.

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The Office of Thrift Supervision (OTS), an office of the U.S. Treasury, regulates and supervises the nation's thrift industry. OTS's mission is to ensure the safety and soundness of thrift institutions and to support their role as home mortgage lenders and providers of other community credit and financial services. For copies of news releases or other documents visit the OTS web page at www.ots.treas.gov.


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Created: Friday, 2/25/2000