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Article: Home Savings sells its New York outlets; plans more closer to home. (Home Savings of America F.S.B.)
- Article from:
- Los Angeles Business Journal
- Article date:
- May 22, 1995
- Author:
CopyrightCOPYRIGHT 1995 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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For the last month, as Home Savings of Arnerica's executives were planning the sale of its New York branch network, they were also negotiating leases to open new branches all across California.
Irwindale-based Home Savings announced last week that it would sell its 60 retail branches and $8.3 billion in deposits in New York state to Flushing, N.Y.-based GreenPoint Financial Corp. for $660 million. The sale is expected to be completed in the fourth quarter.
By the time the deal closes, Home Savings will have opened 30 to 35 new branches in strip malls and shopping centers all over California, under a plan being worked on by the thrift's executives, said Ed ...