VIRGINIA BEACH -- Essex Financial Partners, which operates thrifts in the Southeast, said its Essex Savings Bank of North Carolina will fall below requirements for core and risk-based capital.

As a result, the company said, a capital plan submitted last August to the Office of Thrift Supervision will have to be amended.

Essex also said it is highly unlikely to go through with a planned distribution, originally scheduled for May 15, to owners of its Class A units.

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