• Most Popular
  • Most Shared

United Community sees higher compliance costs on orders

Wed Aug 13, 2008 12:17pm EDT

Stocks

   

(Reuters) - Bank holding company United Community Financial Corp (UCFC.O) said it expects earnings will be hurt in the short term due to higher compliance costs associated with orders issued by federal and state regulatory agencies.

Stocks  |  Regulatory News  |  Bonds  |  Global Markets

But the company said the costs are expected to eventually be offset by lower loan loss provisions.

United Community said it agreed to a debt reduction plan, seek regulatory approval before paying dividends, reduce lending concentrations and enhance overall risk management programs.

The holding company of Home Savings & Loan Co and Butler Wick Corp said in a statement that the orders followed routine regulatory exams at both in January.

Shares of the company closed at $5.86 Tuesday on Nasdaq.

(Reporting by Supantha Mukherjee in Bangalore; Editing by Bernard Orr)
Stocks
Regulatory News
Bonds
Global Markets


More from Reuters

No deaths in Jamaica American Airlines accident

MIAMI (Reuters) - An American Airlines Boeing 737 overshot the runway while landing in driving rain at the international airport in Kingston, Jamaica on Tuesday night, but the company said there were no fatalities or serious injuries.

» More Top News
Malaysians participate in computer attack and defence hacking competition during The 3rd Annual Hack-In-The-Box Security Conference 2004 in Kuala Lumpur on October 6, 2004. REUTERS/Bazuki Muhammad
Commentary:

Year of the breach

Data security breaches are nasty business and should be avoided at all costs, writes Kevin Prince, a chief technology officer at Perimeter e-Security. Here's a look at the biggest breaches and blunders of 2009.  Commentary 

Technology
A condominium under construction is seen in Miami, Florida October 15, 2007. REUTERS/Carlos Barria

Booming in the bust

For most Americans, the housing market collapsed about four years ago. For three real estate heavyweights, it's just getting started.  Full Article 

Housing Market