WASHINGTON - The Office of Thrift Supervision, as expected stepped up the pace of thrift closings at the end of last week.

Home Unity Savings and Loan Association of Lafayette Hill, Pa., was seized and 15 branches and $685 million in assets were transferred to Resolution Trust Corp. conservatorship. The Office of Thrift Supervision said lack of funding had prevented it from finding a buyer under the accelerated resolution program.

Also withdrawn from that program were First American Savings bank, Greensboro, N.C., with $804 million in assets; Cooper River Federal Savings Bank, North Charleston, S.C., with $229 million in assets; and Volunteer Savings Bank, Little Ferry, N.J., with $51 million in assets.

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.