Butterfield S&L; gets OK to sell two branches.

The Federal Home Loan Bank Board approved the sale of Butterfield’s branches in Temecula and Lake Elsinore to Great American First Savings Bank in San Diego for an undisclosed sum. A spokesman for Great American said that about $40 million in deposits from the two branches will be transferred to Great American’s nearby offices on Sept. 9. Customers will receive comparable rates and maturity dates for their accounts, the spokesman said.