Regulatory Alerts2026-08-21 | Corporate Decision 1387Added · Updated
Conditional Approval for Second Federal Savings and Loan Association to Acquire Tioga-Franklin Savings Bank Assets and Liabilities
The Office of the Comptroller of the Currency conditionally approves Second Federal Savings and Loan Association of Philadelphia to purchase certain assets and assume certain liabilities of Tioga-Franklin Savings Bank, contingent upon the FDIC being appointed as receiver. The transaction allows the immediate consummation without a post-approval waiting period and authorizes the retention of the Failed Entity's main office as a branch. Second Federal must comply with specific representations from August 2026, adhere to loss-share agreement restrictions, and submit a Secretary’s Certificate and executed purchase agreement within seven days of consummation.
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