Two More Savings Institutions Taken Over: Federal...

Two More Savings Institutions Taken Over: Federal regulators took over two more savings institutions--one in Ohio and another in Pennsylvania--bringing the total under government control to 221 in 32 states. The two institutions are Civic Savings Bank in Portsmouth, Ohio, with $101 million in assets, and Horizon Financial in Southampton, Pa., with $2.5 billion in assets. The Federal Deposit Insurance Corp., at President Bush’s direction, has been taking over some insolvent S&Ls; since February. The FDIC plans to take over about 60 more institutions in the next several weeks, officials have indicated.