WASHINGTON — A coordinated effort to save a small Pittsburgh mutual, which had fallen victim to fraud, failed late Friday as it was taken over by regulators.

The Office of Thrift Supervision closed the $13 million-asset Dwelling House Savings and Loan. The Federal Deposit Insurance Corp., appointed as the institution’s receiver, said the Pittsburgh subsidiary of PNC Financial Services Group Inc. would assume all $13.8 million of the failed thrift’s deposits and acquire $3 million of its assets.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.