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Article: Peoples Federal to be acquired through expedited case processing program.
- Article from:
- PR Newswire
- Article date:
- October 21, 1988
CopyrightCOPYRIGHT 1988 PR Newswire Association LLC. 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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PEOPLES FEDERAL TO BE ACQUIRED THROUGH
EXPEDITED CASE PROCESSING PROGRAM
WASHINGTON, Oct. 21 /PRNewswire/ -- An Akron, Ohio-based bank holding company, First Bancorporation of Ohio, has received federal approval to acquire Peoples Federal Savings Bank, Wooster, and will invest $17 million in cash in exchange for 100 percent ownership of the institution.
Federal regulators will also provide financial assistance.
Peoples Federal will be the sixth insolvent thrift acquired under the Federal Home Loan Bank Board's expedited case processing program. The terms of the agreement, which were negotiated by the Federal Home ...