San Francisco Federal Savings & Loan Assn....

San Francisco Federal Savings & Loan Assn. will merge with Capital Federal Savings & Loan Assn., it was announced. San Francisco Federal, which has assets of $2.8 billion and 26 branch offices, will absorb Cap Fed in the transaction, which the two companies said should become final early next year. Cap Fed, based in Sacramento, has assets of $985 million and 23 branches. Cap Fed shareholders will receive the equivalent of $21 in San Francisco Fed shares for each share they exchange in the merger.