Imperial Corp. Selling Branches in Colorado

Imperial Corp. of America, the holding company for Imperial Savings of California, is selling the branches and deposits of its four Silver State Savings outlets in Colorado to Columbia Savings, a federally chartered thrift based in Engelwood, Colo. ICA did not disclose the sale price of the branches, which have combined deposits of about $100 million.

ICA sold the branches as part of its decision to sell off S&L; operations outside California. In July, ICA sold 16 branches and deposits of $300 million of its Kansas-based subsidiary, American Savings, which operated in Colorado as Silver State Savings. As of March 31, ICA’s assets totaled $9.76 billion.