WASHINGTON -- Flushing Savings Bank has abandoned its bid to sell $71.5 million in stock as federal regulators investigate charges that the thrift manipulated depositor votes, according to individuals familiar with the deal.

The $598 million-asset mutual announced today that it had postponed its initial public offering indefinitely. Flushing Savings also disclosed that the Office of Thrift Supervision is reviewing "alleged irregularities in connection with proxies voted" on the deal.

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.