Columbia to Buy Bank Deposits: Columbia Savings...
From Times Staff and Wire Service Reports
Columbia to Buy Bank Deposits: Columbia Savings & Loan Assn. signed a letter of intent to buy deposits of six Southern California branches owned by Atlantic Financial Savings Bank. The offices, in Century City, Santa Monica, Mid-Wilshire, Rancho Park, Sherman Oaks and Northridge, have $170 million in deposits and are part of Beverly Hills-based Columbia’s strategy to decrease its dependence on brokered deposits from large investors seeking high rates. The deal is subject to regulatory approvals.
