In Brief: OCC Tells First of Mo. to Revise Policies (Corrected)

First Bancshares Inc. of Mountain Grove, Mo., said the Office of Thrift Supervision has determined some of the company's lending policies are deficient.

The holding company for First Home Savings Bank said in a filing Monday with the Securities and Exchange Commission that the agency has told the company it needs to revise its business plan in light of recent operating losses.

First Bancshares also said that it anticipates entering a memorandum of understanding with the OCC in the near future.