Bel Air Savings & Loan will be sold for $18 million.
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Los Angeles-based Topa Capital Corp. has reached an agreement in principle to pay cash for all outstanding shares of Bel Air Savings & Loan Assn. Formed in 1982, Bel Air Savings has assets of $285 million and offices in Brentwood and Encino. The deal is subject to approval by banking regulators and Bel Air’s shareholders.
