DERBY, Conn. - The Connecticut Department of Banking and the Federal Deposit Insurance Corp. have lifted an April 1992 memorandum of understanding with DS Bancor Inc. subsidiary Derby Savings Bank.

The order had required that the thrift achieve a Tier 1 leverage capital ratio of at least 5.75% by June 30, 1995 and barred the thrift from paying cash dividends to the holding company, except for limited operating expenses.

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