First Federal Savings Bank & Trust v. Ryan

BOGGS, Circuit Judge.

First Federal Savings bank1 feels that it responded to its country’s call (albeit also with the hope of making a profit) by purchasing and merging with an insolvent Florida savings and loan. It did so with, at least in its own mind, certain understandings about the rules regarding the regulations governing the accounting treatment of the new entity. Since no good deed goes unpunished, the Office of Thrift Supervision (“OTS”) (successor to the Federal Home Loan Bank Board (“FHLBB”)) contends that recent statutory changes affect institutions such as First Federal that made…