LJWorld.com weblogs Town Talk
Posted
by Chad Lawhorn
March 15, 2013 at 2:40 p.m.
Federal regulators end special oversight of The University National Bank
Advertisement
Perhaps this is one more sign that a recovery in Lawrence’s housing market is starting to take hold.
Leaders with The University National Bank of Lawrence announced today that federal regulators recently have ended their special oversight of the bank, which was related to the bank’s struggles during the real estate downturn.
According to federal documents, the Comptroller of the Currency has ended a Formal Agreement that it had with The University National Bank dating back to 2009. The Formal Agreement had placed lending limitations on the bank and had required the bank to undertake a special strategic plan.
“We could not be more pleased with this news,” said Todd Sutherland, president and CEO of the bank. “This decision by our primary regulator validates our long-term strategic vision that UNB will continue to serve its customers, shareholders and staff in a safe and sound manner well into the future.”
Sutherland said the bank now is free to pursue the strategies it sees fit for the Lawrence market, both in residential and commercial lending.
Sutherland told me that he believe there is reason for some optimism on the residential real estate front. “We’re starting to see some positive signs,” Sutherland said. “I think housing is starting to recover, although slowly. But we’re seeing again that houses that are priced appropriately will sell. We’ve had a correction take place.”
Sutherland said he has a strong outlook for 2013.
“We’re very positive on it,” Sutherland said. “As long as interest rates stay low, and the Fed has made that commitment, it bodes well for housing.”
- Blog: Kansas science and math teachers easily recruited away May 20, 2013 · 28 comments
- Crews race to find survivors of Oklahoma twister May 20, 2013 · 32 comments
- Letter: Serious issue May 21, 2013 · 24 comments
- Blog: FreedomWorks urges Legislature to reject Common Core reading and math standards May 21, 2013 · 12 comments
- Planning Commission recommends approval of Menards store for south Lawrence May 20, 2013 · 38 comments
- Two men arrested in connection with Sunday morning shooting May 20, 2013 · 49 comments
- Legislature makes no progress; Brownback leaves state to tout tax cuts May 20, 2013 · 17 comments
- Opinion: Benghazi triggers a major credibility crisis May 18, 2013 · 77 comments
- Opinion: Amid crisis, Europe resists extremism May 21, 2013 · 16 comments
- "Why I Left the Republican Party" -- 03/16/13 at Lawrence Arts Center 42 comments
- Memphis forward Tarik Black transfers to KU May 20, 2013
- Planning Commission recommends approval of Menards store for south Lawrence May 20, 2013
- Midwifery 101: Options for pregnant women May 21, 2013
- 40 years ago: Outgoing KU chancellor receives tributes from alumni May 21, 2013
- They said it ... about Tarik Black May 20, 2013
- Free State softball draws Derby first May 20, 2013
- Two men arrested in connection with Sunday morning shooting May 20, 2013
- Legislature makes no progress; Brownback leaves state to tout tax cuts May 20, 2013
- When furniture turned into art: Wendell Castle's KU connection May 19, 2013
- KU makes sudden change in Statehouse presence May 20, 2013
Comments
toe 2 months ago
Sutherland should walk over to CapFed and learn how to run a bank.
oneeye_wilbur 2 months ago
Or don't take lumber for collateral.
Commenting has been disabled for this item.