BANKING & FINANCE - June 8, 1991
Two Rancho Bernardo Federal Savings Bank branches and $47.1 million in deposits have been acquired by two San Diego County financial institutions. International Savings Bank of San Diego has acquired deposits totaling $37 million and the Rancho Bernardo office of the failed thrift. La Jolla Bank has acquired the Escondido branch and deposits of $10.1 million. Rancho Bernardo Federal Savings Bank was placed under conservatorship by the Office of Thrift Supervision in October after severe losses connected to a troubled real estate project in Escondido.
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