
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: WEDNESDAY, September 8, 1993                   TAG: 9309080132
SECTION: BUSINESS                    PAGE: B-6   EDITION: METRO 
SOURCE: MAG POFF
DATELINE:                                 LENGTH: Short

CHARTER FREED FROM RESTRICTIONS

Charter Federal Savings Bank said Tuesday it is free of federal restrictions because it now meets all regulatory capital requirements.

The bank exceeds all capital guidelines set by regulators because of the infusion of proceeds of a recent sale of new common stock.

The Office of Thrift Supervision had placed the Bristol-based thrift under operating restrictions on March 26, 1990.

President Cecil R. McCullar said lifting of the restrictions "will provide Charter Federal with greater flexibility to respond more quickly to opportunities to enhance profitability that may arise in the future."

Charter Federal has 26 offices in Southwest Virginia and Northeast Tennessee. It reported having assets of $720 million.

by CNB