Centennial Savings & Loan is being investigated.

According to federal officials, the FBI is looking into allegations of laundering drug money, loan kickbacks and fraudulent real estate activities, by the Santa Rosa, Calif.-based S&L.; “How many of those allegations will be prosecuted has yet to be seen,” said Assistant U.S. Atty. Peter Robinson. Robinson and John Phillips, head of the FBI’s white-collar crime unit, confirmed that the probe has been going on for nine months and that it would last at least two years. The two said that the investigation is still in a “preliminary stage that involves allegations, not formal charges.”