WASHINGTON -- Another troubled California thrift has nosed under the regulatory wire with a private recapitalization, showing that the strong market for equities of problem thrifts is holding.

UnionFed Financial Corp., parent of $1 billion-asset Union Federal Bank, said Friday that its offering of $45 million in common stock was oversubscribed.

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.