Westco Savings Closed: The federal Resolution Trust...
From Times Staff and Wire Reports
Westco Savings Closed: The federal Resolution Trust Corp. closed Westco Savings Bank, a small thrift based in Wilmington that had been previously seized by regulators. The $116 million in deposits were sold to La Palma-based Frontier Bank, a subsidiary of Ventura County National Bancorp in Oxnard, for $750,000. The three former Westco branches in Wilmington, La Palma and Harbor City will operate as Frontier Bank branches. Separately, the RTC approved the sale for $1.5 million of First Federal Savings & Loan in Bakersfield to Bank of America.
