TierOne investor deadline arrives

Deadline day has arrived for Lincoln-based TierOne Bank to find an investor, buyer or merger partner.

Last month, federal regulators rejected TierOne's plan to improve its balance sheet. They ordered the bank to have an agreement to improve its capital position by the end of April, and that the bank must receive an infusion of funds by the end of May, unless regulators extend the deadlines.

TierOne spokesman Ed Swotek said Friday morning that the bank had nothing to announce yet. TierOne Corp. has been under scrutiny from the federal Office of Thrift Supervision since early 2009, after the bank reported four straight quarters of losses because of nonperforming loans. TierOne is a federally chartered savings bank that holds about $2.9 billion in assets.