BankAmerica Corp. Buys Arizona S&L;: Continuing its...
From Times Staff and Wire Reports
BankAmerica Corp. Buys Arizona S&L;: Continuing its expansion in the West, BankAmerica said it acquired $1.69 billion in assets and $750 million in loans of the Pima Federal Savings & Loan Assn. from the federal government. BankAmerica, the nation’s second-largest banking company, said its Bank of America Arizona unit had paid the Resolution Trust Corp. an $11.3-million premium in the deal. San Francisco-based BankAmerica said it will operate the 40 Pima branches, all located in Arizona, without interruption. Since December, 1989, BankAmerica has spent more than $430 million to buy 10 failed thrifts in the Western states.
