A unit of United Community Financial (UCFC) in Youngstown, Ohio, has been freed from an enforcement action with the Federal Deposit Insurance Corp. and the Ohio Division of Financial Institutions.
The $1.8 billion-asset company said Tuesday that regulators terminated a
Last month, the company announced plans to
The bulk loan sale "substantially improved asset quality and achieved a dramatic reduction in our risk profile," Patrick Bevack, United Community's president and chief executive, said in a press release. The terminated consent order "means that Home Savings is now considered well capitalized and no longer in troubled condition, and we can once again take deposits from public institutions."
The terminated enforcement action had replaced a