-
With regulators catching flak for taking too long to close "zombie" institutions, the failure of United Western Bank seemed atypically quick.
January 24 -
Despite having private-equity commitments, the $2 billion-asset United Western Bank in Denver failed Friday. Regulators also closed banks in the Carolinas and Georgia.
January 21
United Western Bancorp Inc., a holding company in Denver that is suing regulators to regain control of its failed thrift, has denied filing a quarterly report with the Office of Thrift Supervision.
The company said in a press release Wednesday that it did not prepare the thrift financial report for United Western Bank's results in the quarter ended Dec. 31. "The TFR was not prepared by any representative of the company, and the company disavows any information in the TFR," the release said. "Neither the company nor any of its affiliates was consulted with regard to the preparation of the TFR, and neither the company nor any of its affiliates is responsible for the TFR."
The OTS closed the $2 billion-asset thrift Jan. 21. Last week, the company, officers and directors filed a complaint in U.S. District Court in Washington, D.C., against the OTS and the Federal Deposit Insurance Corp. in an effort to overturn the seizure.