Thrift - Regulatory and Legal Developments
United Western Bancorp unit got proposed MOU from OTS
November 04, 2009 6:08 PM ET
By Uzair Aftab
|  Related Companies | Related Documents |
United Western Bancorp Inc. unit United Western Bank has received a proposed memorandum of understanding from the OTS that may require the two companies to take actions concerning capital, dividends, debt and stock redemptions, and asset and liability concentrations, according to a Nov. 4 news release. The potential MOU, which is yet to be finalized, stems from the regulator's findings during a regularly scheduled examination of the condition of the company and the unit as of March 30. The company said it expects that the terms of the MOU will be finalized in the near future. United Western Bancorp also reported a net loss of about $8.7 million, or 95 cents per share, for the quarter ended Sept. 30, compared with net income of roughly $1.5 million, or 21 cents per share, for the same period last year. |
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