BANKING & FINANCE - Feb. 8, 1996
CalFed to Sell San Diego Branches: The subsidiary of California Federal Bancorp said that selling the six branches will help it concentrate on its core markets in the Los Angeles and San Francisco areas and Nevada. The branches, with $380 million in deposits, will be sold to Regency Savings Bank, a subsidiary of FBOP Corp. in Oak Park, Ill. Terms of the sale were not disclosed. Los Angeles-based California Federal Bank will be able to sharpen its advertising and marketing focus as a result of the sale, Chief Executive Edward G. Harshfield said. The thrift provides retail and business banking services through 131 savings and loan offices in California and Nevada.
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