ST. CLOUD, Fla. -- FFO Financial Group, a savings and loan holding company, said the Office of Thrift Supervision had terminated a capital directive issued last January and a written agreement in place since October 1990.

The company said that after a five million-share common stock offering in September, which raised $5.5 million, tangible and core capital reached $13.6 million, or 5.39% of total assets, at Sept. 30, compared with regulatory requirements of 1.5% and 3%, respectively. Risk-based capital was $15.6 million, or 8.96% of total risk-weighted assets, compared with the regulatory requirement of 8%.

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