County Savings Bank of Santa Barbara has...

County Savings Bank of Santa Barbara has agreed to acquire seven of Citicorp Savings’ California branches. The price of the deal, which must be approved by the Federal Home Loan Bank Board and the California Department of Savings and Loan, was not disclosed. The branches involved are in Arroyo Grande, Atascadero, Carmel, Morro Bay, Salinas, San Luis Obispo and Santa Maria. County Savings, which on June 30 had assets of about $930.6 million, said the purchase will increase its deposits by about $120 million.