Duval Federal Savings & Loan Assn. of...
Duval Federal Savings & Loan Assn. of Jacksonville, Fla., and CalFed Inc., Los Angeles, announced the termination of an agreement under which Duval would merge with CalFed’s flagship subsidiary, California Federal Savings & Loan Assn. The agreement, announced March 24, would have involved a simultaneous conversion of Duval Federal, which operates 32 branches in Duval and Palm Beach counties, from a mutual to a stock savings and loan at the time of the proposed merger with California Federal.
