MIAMI -- American Savings of Florida said the Office of Thrift Supervision had released it from a capital plan in effect since April 1991 and from a capital directive in effect since January 1992.
The company also said the OTS had formally removed its designation as an institution "requiring more than normal supervision."
American Savings said it believed that the OTS took these actions because of the progress demonstrated by the company in meeting compliance with regulatory capital requirements, achieving core earnings, reducing nonperforming assets, and improving levels of loss reserves.
The company said the capital directive had limited its activities to those specified in its capital plan and generally prohibited asset growth.
American Savings said it has met all current capital standards since March 31, 1992, and all fully phased-in requirements since Sept. 30. 1992.
