This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

PVF Capital Corp. Announces Termination Of October 2009 Regulatory Order By Office Of The Comptroller Of The Currency

SOLON, Ohio, Aug. 27, 2012 (GLOBE NEWSWIRE) -- PVF Capital Corp. (Nasdaq:PVFC), the parent company of Park View Federal Savings Bank, announced today that the Office of the Comptroller of the Currency (OCC) has lifted the regulatory order that has been in effect with respect to the Bank since October 2009. The Bank has met the targets established by the regulatory order, including tier one capital, risk-based capital and classified and criticized assets ratios, as well as achieving profitability.

Robert J. King, Jr., President and Chief Executive Officer, commented, "The OCC's removal of the regulatory order is a significant milestone and a major step forward for Park View. We continue to strengthen our position for long-term growth and profitability, and we have seen steady improvement in earnings and asset quality. We have broadened our product offerings, added resources to our commercial banking and small-business lending teams, and will continue to focus on our transformation strategy to deliver sustained profitability as a strong community bank."

The regulatory order was issued October 19, 2009, and required the Bank to raise its tier one (core) capital level to at least 8% of adjusted total assets, and its total risk-based capital to at least 12% of risk-weighted assets. The Company raised $30 million in new capital in March 2010. As of June 30, 2012, the ratio of tier one capital to adjusted total assets stood at 8.74%, and total risk-based capital to risk-weighted assets was 13.10%.

The Bank also now exceeds the asset quality requirements of the regulatory order. As of June 30, 2012, its level of classified assets to core capital plus general valuation allowance ratio was 48.2%, and its level of classified assets plus special mention assets to core capital plus general valuation allowance ratio was 55.0%. The regulatory order requires these ratios to be no greater than 50% and 65%, respectively.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs