BANKING & FINANCE - May 1, 1995
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Times Staff and Wire Reports
California Thrift Fails: The Office of Thrift Supervision placed Continental Savings of San Francisco in receivership, making it the first thrift failure of 1995. The OTS transferred Continental’s $370 million in assets to the Resolution Trust Corp., a federal thrift regulator, and sold its six Bay Area branches and $364 million in deposits to Los Angeles-based California Federal Bank through an accelerated resolution process, the agency said.
