The foundation finds the undergraduate college a very troubled institution.
This means these "troubled institutions" were paying $1,000 a year more per certificate of deposit.
Its trustees have reached into their own pockets and come up with $110,000 to keep the troubled institution open, at least until June 1.
Those banks were on the regulators' list of troubled institutions.
"But if it's a really troubled institution, insisting can result in lots of problems."
Now he is looking for other troubled financial institutions to save.
The number of troubled institutions in the region is growing, and with interest rates rising that trend will continue.
But though the financially troubled institution made more money than it had expected, it's not out of the woods yet.
It could be several months before consolidations of troubled institutions resume.
Over all, the Government is expected to control more than $300 billion in assets in the troubled institutions.