To facilitate acquisitions, the Office of Thrift Supervision on Wednesday said it is considering allowing federal mutual holding companies to set up state-chartered stock holding companies.
The multi-tier arrangement, OTS said, would add a state-chartered stock holding company between a thrift and its mutual holding company. All the thrift's stock would be owned by the intermediate holding company, which could sell up to 49% to the public while the mutual holding company would own at least 51%.
The agency, accepting comments on the plan through Dec. 13, said this structure would allow thrift companies repurchasing stock to save money on taxes, which could make acquisitions easier.
Separately on Wednesday, the OTS said it completed a dozen enforcement actions in September, bringing the total for the year to 89.
Included in the actions were decisions to bar seven people from the thrift industry, cease-and-desist orders issued to three former thrift employees, and one civil money penalty.
OTS also entered into a supervisory agreement with Centennial Savings Bank, Durango, Colo., while terminating enforcement actions against Home Bank FSB in Cleveland and Interstate Savings and Loan Association in Perryton, Tex.