The Office of Thrift Supervision has denied United Western Bancorp Inc.'s request to make payments on its line of credit with JPMorgan Chase & Co.

The $2.42 billion-asset company disclosed the denial of its request for a nonobjection to the payments in a Securities and Exchange Commission filing Tuesday. United Western, of Denver, was seeking the approval because such payments are restricted by a cease-and-desist order its thrift entered into with the OTS in late June.

An April forbearance agreement for the line of credit extended the maturity date for the $16.25 million balance to Sept. 30, if United Western made monthly payments of $500,000 in the interim. It, however, could not make payments without OTS approval. United Western said it is negotiating with the lender.

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