WASHINGTON - The Office of Thrift Supervision placed Republic Savings Bank, Matteson, Ill., in receivership and chartered a federal mutual institution to take its place.

The thrift, which had been operating under lending restrictions, had reported losses every quarter since the start of 1991. Assets totaled $290.3 million, liabilities $273.1 million, and tangible capital $2 million.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.