The FHLBB took over a Northern California S&L;.

The Federal Home Loan Bank Board said the new federal mutual association, Centennial Savings & Loan Assn. in Guerneville, assumed $404.6 million in assets and the liabilities of the state-chartered stock institution of the same name. Great Western Savings of Beverly Hills will provide management services for the S&L.; The bank board took the action after it found that the S&L; was insolvent, and it said an examination revealed numerous violations of federal regulations at the S&L.;