BANKING

OTS Seizes Westminster Thrift: Federal thrift regulators seized an apparently healthy Delta Savings Bank, charging that four directors engaged in “egregious insider abuse” and that the thrift’s president threatened the life of a federal examiner. The Office of Thrift Supervision, which ordered the takeover, also initiated an enforcement action that seeks to ban the directors from the industry and demands $1.5 million in restitution from them for alleged improper loans and insider transactions. The OTS charged that the thrift, though solvent, was being operated in an unsafe and unsound manner. Its records were in such disarray, the agency said, that regulators couldn’t verify whether the profitable institution is really financially sound. Delta, the 13th California thrift seized by regulators this year, was turned over to the federal Resolution Trust Corp.