Lincoln Financial (LNC) Applies To Become Savings and Loan, Participate in Capital Purchase Program
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Lincoln Financial Group (NYSE: LNC) 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).
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