OTS ends Baltimore County Savings Bank supervision

Daily Record, The (Baltimore), Mar 13, 2008

BCSB Bankcorp Inc., the holding company for Baltimore County Savings Bank, said the U.S. Office of Thrift Supervision has terminated the supervisory agreement under which the bank had been operating since December 2005. President Joseph J. Bouffard said the lifting of the supervisory agreement has been one of the company's major strategic goals, and is expected to improve profitability through reduced Federal Deposit Insurance Corp.

premiums to the tune of $200,000 to $300,000 a year. In addition to the OTS oversight, the bank lost nearly $11 million when it was victimized by a check- kiting scheme in 2006, although it ultimately recovered about $3.6 million from its insurer.