Thrift

Fairmount Bancorp, the holding company of its namesake bank in Rosedale, announced Thursday that it had completed the acquisition of Baltimore's Fullerton Federal Savings Association. Under the deal, Fairmount sold $793,000 of its common stock to Fullerton Federal depositors and to Fairmount's employee stock ownership plan. Shares were also offered to the public. Hanah.cho@baltsun.com Text BUSINESS to 70701 to get Baltimore Sun Business text alerts

A homeless woman who was killed in a fire outside a Westminster thrift store early Tuesday morning has been identified as 59-year-old Paula Mae Carlisle, state fire officials said Wednesday. A state medical examiner has ruled Carlisle's death was caused by "smoke inhalation and thermal burn injuries," the state fire marshal's office announced. Carlisle's remains were found burning behind The Spare Room at 28 West Main St. in Westminster by firefighters about 1:49 a.m. She was pronounced dead at the scene.

On December 23, 2003, MARION E. (nee Eder) THRIFT; beloved wife of the late Charles T. Thrift, Sr.; loving mother of Naoma D. Blankenship, Kathryn M. Couch, Charles T., Donald F. and Kenneth E. Thrift; admired sister of Elva Hatfield and Jean Green. Also survived by numerous grandchildren and great-grandchildren. Visitation at the HUBBARD FUNERAL HOME, INC., 4107 Wilkens Avenue, on Saturday and Sunday, 2 to 4 and 7 to 9 P.M., and where services will be on Monday at 1:30 P.M. Interment in Cedar Hill Cemetery.

Federal securities regulators allege an executive at Eastern Savings Bank in Hunt Valley participated in a fraudulent short-selling scheme involving his personal brokerage firm, according to a complaint filed Monday. In an administrative case, the U.S. Securities and Exchange Commission said that Chicago-based optionsXpress, four of the firm's officials and Jonathan I. Feldman, a senior vice president at Eastern Savings, violated SEC rules by engaging in a plan to profit off a series of "sham" transactions designed to give the impression that the firm had bought certain securities.

There is little doubt more savings and loan institutions will fail before the situation turns around. While the government pumps more of your tax dollars into troubled thrifts, the question you need to think about is: "What happens if my S&L goes under?"Why do they fail? While dishonesty was certainly a factor in the thrift crisis, most institutions fail because the money they earn on their assets (such as the mortgages they issue) does not cover what they must pay on their liabilities (the CDs and passbook accounts belonging to depositors)

The news about the thrift industry may seem all bad. But there still are many thrifts doing just fine by conducting business the old-fashioned way: Making safe residential home mortgage loans. No high-risk real estate. No foreign loans. No unscrupulous activities.Is your thrift one of the safe ones? It may pay to find out. While the government still insures your deposits up to $100,000, a thrift failure could lower your interest rate. If nothing else, it makes good sense to know whether the people you deal with really care about your money.

A number of the thrifts that had low first-quarter ratings, according to IDC, have recorded significant events since the data in the chart was collected. Such events could improve future ratings, the thrifts said last week.These include:* Equitable FSB. The thrift sold three branches during the second quarter, reducing its assets by about $20 million.* Fairview FS&LA. This mutual company is converting to a stock company and signed a letter of intent a month ago to sell 100 percent of the company to an undisclosed investor.

Syd Thrift said there is a plan. Two plans, actually. One if the Orioles stay in contention. And one if they fall out. Thrift, the Orioles' vice president of baseball operations, said he began strategizing on Jan.1. His immediate goal is to stick with Plan A and salvage the season. But if Plan A fails, he sounds willing, even eager, to try Plan B. Subject to approval, of course. Plan B is the one many fans want, but owner Peter Angelos has resisted in recent seasons. Plan B is a turnover that would commence with trading veterans for prospects, and transform the Orioles from an aging, high-priced team into a more youthful, balanced mix."

For the banker who has everything, the federal Resolution Trust Corp. yesterday released its own version of the Spiegel catalog, and just in time for Christmas: It's a list of 63 savings and loans, in slightly damaged condition, for sale to the highest bidders.The sale was triggered Friday when President Clinton signed a bill to release $18.3 billion in new funding to the RTC as part of the Resolution Trust Corp. Completion Act. It was the RTC's first cash infusion in two years.Among the thrifts, all of which have been resting quietly in RTC receivership for varying lengths of time, are three large Maryland institutions -- Second National Federal Savings Association of Salisbury ($698 million in deposits)

Lisa Scott doesn't have a look. She has three -- at least.Depending on the day, she's a conservative career woman, a trendy TV-show hostess, or a casually dressed owner of a modeling business.But whether she's working as admissions director at a Baltimore cosmetology school or playing hostess of Ladies Night Out, a cable dance show seen primarily in Anne Arundel County, she knows that her style makes a statement."I'd like people to look at my clothes and think you don't have to spend a fortune," says Ms. Scott, 30, who lives in Edgemere.

Fairmount Bancorp, the holding company of its namesake bank in Rosedale, announced Thursday that it had completed the acquisition of Baltimore's Fullerton Federal Savings Association. Under the deal, Fairmount sold $793,000 of its common stock to Fullerton Federal depositors and to Fairmount's employee stock ownership plan. Shares were also offered to the public. Hanah.cho@baltsun.com Text BUSINESS to 70701 to get Baltimore Sun Business text alerts

The senior outside hitter enjoyed a dominating week, first helping the Knights (6-0) to a 3-0 sweep of Carroll County rival Liberty on Tuesday, then leading them to the title at Saturday's Linganore Volleyball Tournament. On Tuesday, Thrift, a four-year varsity player, had 15 kills and six digs as the Knights swept Liberty, 25-18, 27-25, 25-19. In 12 games at Saturday's tournament, she totaled 62 kills, 22 digs, six aces and three blocks to be earn Most Valuable Player honors. The Knights went 7-1 in bracket play, sweeping two games from Frederick, Oak Hill and Walkersville, and going 1-1 against Glenelg.

Arnolia United Methodist Church Thrift Store, 1776 E. Joppa Road, in Parkville (corner of Joppa and Oakley roads) announces its grand opening on Aug. 22 at 11 a.m. Proceeds will support Arnolia outreach programs for persons in the 21234 ZIP code. The outreach programs assist the community with school supplies, food and to help prevent evictions and utility turn-offs. Items from the thrift store will include gently used men's, women's and children's clothing, housewares and other household items.

Two groups have joined together to host the Family to Family Community Thrift Store, which will offer gently used, donated items for sale this weekend, all priced at $10 or less. The thrift store will be held Saturday, Aug. 20, from 10 a.m. to 4 p.m. at Prince George's County Police Headquarters, 7600 Barlowe Road, Landover, and is a joint effort of the Police Department's Community Services Division and local nonprofit Community Outreach and Development Inc., an organization that works to provide services that help individuals and families become self-sufficient.

Baltimore County Savings Bank announced Friday that it is seeking to switch from a federally chartered savings bank to a Maryland-chartered commercial bank. Bank president and chief executive Joseph J. Bouffard said in a statement that the state charter would be "a better fit for us as we continue to transform and streamline our operations…" Banking consultant Bert Ely says other thrifts nationwide are contemplating similar moves. The Office of Thrift Supervision, which has regulated savings banks for years, will be merged in July into the Office of the Comptroller of the Currency that oversees national banks.

When Bay Bank took over the failed Bay National Bank last month, little was known about the newly created thrift other than it has a name similar to its predecessor. Some things haven't changed. Bay Bank retained all of Bay National's 22 rank-and-file employees. And like Bay National Bank in its early years, the new Bay Bank plans to focus on providing a "very high level" of customer service and loan products tailored for small- and medium-size businesses, according to Kevin Cashen, who took over as chief executive.

The Salvation Army is opening a 25,000-square-foot thrift outlet and donation center on a 6.74-acre lot at the southeast corner of U.S. 1 and Guilford Road in Savage next week.The center includes a 15,000-square-foot thrift shop and a 10,000-square-foot warehouse for storage and sorting, said Maj. William C. Madison, regional administrator for the Salvation Army. The center will create 15 jobs."I'm very excited," he said of the opening at 10 a.m. Thursday. "I have a very positive feeling that this is going to be a good store."

Federal banking regulators have charged an executive of Hunt Valley-based Eastern Savings Bank with improperly altering documents for $3.25 million in loans approved by a Pennsylvania financial institution. In documents released Tuesday, the Office of Thrift Supervision accuses Jonathan I. Feldman, Eastern Savings' senior vice president, of receiving financial gain or benefit from "misconduct involving personal dishonesty" and engaging in unsafe or unsound practices. The OTS is seeking to remove Feldman from Eastern Savings and prohibit his involvement with Eastern Savings and other banks.