WASHINGTON - Thrift regulators approved Charter Federal Savings Bank's capital restoration plan, the Bristol, Va.. institution said Monday.

The $692 million-asset thrift has been on the regulatory ropes for months. Charter Federal said it hopes to bring capital ratios up to regulatory minimums by getting current shareholders to invest $43.5 million more.

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.