BANKING & FINANCE - March 9, 1993

OTS Ends Agreement with Coast Fed: Coast Savings Financial Inc. said the Office of Thrift Supervision has rescinded the agency’s supervisory agreement with its Coast Federal Bank subsidiary, ending more than two years of close federal scrutiny and allowing the bank to resume paying dividends. Coast also said an accounting change allowed it to revise its fourth-quarter earnings upward to $24.0 million from the $3.4 million it originally reported, and that its earnings for all of 1992 have been revised upward to $48.0 million from $27.4 million. The company also said it filed a shelf registration statement for up to $100 million in stock and debt securities with the Securities and Exchange Commission, with proceeds to be used to increase the bank’s capital.