OTHER NEWS - Oct. 30, 1993

Bank of San Diego Seized: The state Banking Department seized the nine-branch bank, which has $300 million in assets and offices in San Diego County, Long Beach and Santa Ana. Losses of $24 million over the last two years rendered the bank nearly insolvent, said regulators, who had anticipated the seizure and arranged beforehand to sell Long Beach and Santa Ana branch deposits to Harbor Bank of Long Beach. Deposits in the seven San Diego branches have been acquired by Grossmont Bank of La Mesa. Bank of San Diego had been regarded as a “problem institution” since 1991.