BANKING & FINANCE - Jan. 29, 1993
From Times Staff and Wire Reports
RTC to Sell 56 Homefed Bank Branches: The Resolution Trust Corp. said it will sell 56 Homefed Bank branches in Central and Northern California, marking the government’s first moves to liquidate the failed thrift’s retail network. The largest single block of branches--24 Bay Area offices with $655.9 million in deposits--will be purchased by Home Savings of America. Four other lenders, including Los Angeles-based First Interstate Bank, will purchase the remaining 32 offices. The RTC said the sales will be completed within 30 days and will fetch a government premium of about $34.7 million above the roughly $1.6 billion deposited in the branches.
