Great American plans to buy a Colorado S & L.

San Diego-based Great American First Savings Bank, which last month agreed to acquire a savings and loan in Washington state, hopes to expand its retail banking business by acquiring the small and financially troubled First Security Savings & Loan, with two offices in Grand Junction. First Security reported a $1.6-million negative net worth and $52 million in assets in November when the Federal Home Loan Bank Board placed it in receivership. The proposed acquisition would be subject to federal regulatory approval.