Lincoln Financial Group announced that it has applied with the Office of Thrift Supervision to become a savings and loan holding company concurrent with reaching an agreement to acquire Newton County Loan & Savings, FSB, a federally regulated savings bank. Subject to customary terms and conditions, the acquisition of Newton County Loan & Savings, FSB, is expected to close following receipt of approval from the Office of Thrift Supervision. The company also filed an application with the U.S. Treasury to participate in the TARP Capital Purchase Program (TARP CPP).
Lincoln Financial's applications to become a savings and loan holding company and to participate in the TARP CPP are subject to approvals from the Office of Thrift Supervision and the U.S. Treasury. Lincoln Financial Group is the marketing name for Lincoln National Corporation and its affiliates. With headquarters in the Philadelphia region, the companies of Lincoln Financial Group had assets under management of $200 billion as of September 30, 2008. Through its affiliated companies, Lincoln Financial Group offers: annuities; life, group life and disability insurance; 401(k) and 403(b) plans; savings plans; mutual funds; managed accounts; institutional investments; and comprehensive financial planning and advisory services. Affiliates also include: Delaware Investments, the marketing name for Delaware Management Holdings, Inc. and its subsidiaries; and Lincoln UK. For more information, including a copy of our most recent SEC reports containing our balance sheets, please visit www.LincolnFinancial.com.
--www.theasianbanker.com (November 18 2008)--
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