BANKING & FINANCE - Oct. 2, 1996
Times Staff and Wire Reports
Illinois Bank Takes Over L.A. Thrift Operator: Topa Equities, which operates five thrifts in the Los Angeles area, is being taken over by Regency Savings Bank. Terms were not disclosed. Topa, with $578 million in assets, will become a division of Regency, which also operates Torrance Savings Bank. Upon completion of the merger, which is subject to regulatory approval and expected to be completed in November, Regency will have assets of more than $2 billion and 27 branches in the South Bay area of Los Angeles, San Diego County and the Chicago area.
