Solon, OH – PVF Capital Corp. (Nasdaq: PVFC), the parent company of Park View Federal Savings Bank, announced today that the Office of the Comptroller of the Currency (OCC) has lifted the regulatory order that has been in effect with respect to the Bank since October 2009. The Bank has met the targets established by the regulatory order, including tier one capital, risk-based capital and classified and criticized assets ratios, as well as achieving profitability.
Robert J. King, Jr., President and Chief Executive Officer, commented, “The OCC’s removal of the regulatory order is a significant milestone and a major step forward for Park View. We continue to strengthen our position for long-term growth and profitability, and we have seen steady improvement in earnings and asset quality. We have broadened our product offerings, added resources to our commercial banking and small-business lending teams, and will continue to focus on our transformation strategy to deliver sustained profitability as a strong community bank.”