|
|
Article: Dwelling House Savings and Loan turned over to PNC Bank
- Article from:
- Tribune-Review/Pittsburgh Tribune-Review
- Article date:
- August 15, 2009
- Author:
CopyrightCopyright 2009 Tribune-Review/Pittsburgh Tribune-Review. Provided by ProQuest LLC. (Hide copyright information)
|
Federal regulators on Friday seized Dwelling House Savings and
Loan Association, which was hobbled by Internet fraud, and turned
the 119-year-old, minority-owned institution in the Hill District
over to PNC Bank to operate.
The one-office bank at Centre and Herron avenues will reopen
Monday as a PNC branch, said the Federal Deposit Insurance Corp. The
agency acted as the bank's receiver after the Office of Thrift
Supervision closed the bank earlier in the day.
Dwelling House's $13.8 million in deposits will revert to PNC
during the weekend. Deposits will continue to be insured by the
FDIC. PNC declined to say how much it paid for them.
Dwelling House will lose its physical identity, too. ...