Advertisement

Huntington Savings & Loan agreed to be acquired.

Share via

The Huntington Beach-based thrift has agreed to be taken over by Intergroup Corp., an East Coast owner and operator of apartment properties that recently relocated to Los Angeles. John V. Winfield, Intergroup’s president, said the agreement has been approved by the boards of both companies after two months of negotiations but still must be approved by the S&L;’s shareholders and by state and federal regulators. The 5-year-old thrift has lost more than $1.2 million in the last two years. It had assets of $125 million at the end of 1985, but its capital had fallen to little more than $1 million. Huntington S&L; officials could not be reached.

Advertisement