HARTFORD, Conn. - Northeast Federal Corp. said it had decided not to proceed with its previously announced rights offering and that it was withdrawing its registration statement filed with the Securities and Exchange Commission.

The company, the parent of Northeast Savings, said current market conditions do not justify proceeding with the offering.

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.