A month after denying United Western Bancorp Inc.'s requests to make payments on its line of credit, the Office of Thrift Supervision has changed its mind.
The $2.4 billion-asset Denver company announced in a Securities and Exchange Commission filing last week that it had received a written nonobjection from the OTS on Sept. 28 to make interest payments for June, July, August and September. Until that approval, the company was considered to be in default on the $16.25 million line of credit. It was expected to come due Sept. 30.
Also, United Western Bancorp said JPMorgan Chase & Co. has agreed to waive the defaults made against the forbearance agreement and move the due date to Oct. 31.