California Federal S&L; acquired 16 branches.
The state’s fourth-largest savings and loan reported that it has purchased the Northern California branches of Eureka Federal Savings & Loan, which is based in San Carlos, near Palo Alto. Eureka officials said they sold the branches as part of an effort to “streamline operations.” If the deal is approved by federal regulators, Los Angeles-based CalFed will have 47 Northern California offices in its 200-branch California system. Terms of the acquisition were not disclosed.
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