The man at the top of Home Savings and Loan -- and its parent company -- admits the new regulations were not expected.  Chief Executive Officer Doug McKay says the "cease and desist" order "sounds pretty ominous, until you really have a chance to look at what's required."

For the most part, the order from both the FDIC and the Ohio Division of Financial Institutions requires United Community Financial Corporation to restrict its more high-risk loans -- especially those for speculative housing and commercial construction.

Although he couldn't provide specific figures, McKay blames those high-risk loans -- and their delinquencies -- for much of the bank's troubles the last year.  Experts in housing construction we spoke with admit as loan restrictions eased in the past, developers took on more and more debt, creating a vicious cycle.

Only now that bubble has definitely burst.

Still, inspite of the orders and the dramatic drop in the price of UCFC stock, CEO Doug McKay tells First News there is absolutely nothing for customers to worry about, insisting their money is safe -- adding these new orders come with no fines or penalties -- or even suggest any sort of wrongdoing.

The bank showed profits during the first two quarters this year, and McKay insists the changes being undertaken will only serve to make the bank stronger.