CenFed Bank: The bank said it will...
CenFed Bank: The bank said it will exchange certain branches and deposits in Orange County and elsewhere with Coast Federal Bank. CenFed will sell deposits of its Seal Beach, Laguna Hills and Glendora branches, and will purchase deposits of Coast Federal branches in Hemet, Sun City and Riverside. Overall, CenFed will purchase about $226 million of deposit balances from Coast and will sell $158 million to Coast, resulting in a $68-million net increase to CenFed’s retail deposit base. The transaction is scheduled to close on or about Oct. 7.
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