Security Pacific Buys Thrift Branches: The Los...
From Times Staff and Wire Reports
Security Pacific Buys Thrift Branches: The Los Angeles bank paid $82,290 to assume $700 million in deposits in 17 branches of the failed Security Savings & Loan in Arizona. The Resolution Trust Corp., the federal agency cleaning up the nation’s savings and loan problem, seized Security Savings, which had 20 branches overall, in February, 1989. Nearly all of the branches that Security Pacific acquired are in Phoenix or Tucson.
