Investment banking powerhouse Lehman Brothers Holdings Inc. has filed an application with the Office of Thrift Supervision to buy a federal savings bank.
Lehman is seeking to buy Delaware Savings Bank, a Wilmington thrift that the OTS has deemed undercapitalized.
Lehman is asking OTS to declare the transaction an "emergency," because the thrift is under order to be acquired or raise new capital by June 30. The investment bank asked OTS to act by May 28.
There are 45 nonbanks with applications pending before OTS, including eight securities firms, 24 insurance companies, and four manufacturers.