Regulators Seize San Francisco Thrift: Federal regulators...
From Times Staff and Wire Reports
Regulators Seize San Francisco Thrift: Federal regulators have seized the city’s third-largest thrift, Pacific Coast Savings and Loan Assn. of America, which they said is “nearly insolvent.” Customers will be unaffected by the action, officials said. Officials at the Resolution Trust Corp. said the institution’s management was too conservative and failed to get an adequate return on loans to cover interest paid on deposits. The thrift has about $968 million in assets.
