Ailing Central Bank Sold: Bank of the...

Ailing Central Bank Sold: Bank of the West, which has 45 branches throughout California, said it signed an agreement for the purchase of the financially troubled Central Bank, with 46 branches, for $54 million. Central Bank, headquartered in Walnut Creek, Calif., reported a loss of $12.9 million in the first six months of 1989 and $39.9 million last year because of bad loans. Central has been operating under a consent order and other agreements with the Federal Deposit Insurance Corp. that required it to change its management and increase its capital.