|
|
Article: Secor Bank acquires insured deposits of Louisiana thrift. (Twin City Savings)
- Article from:
- PR Newswire
- Article date:
- November 10, 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)
|
SECOR BANK ACQUIRES INSURED DEPOSITS OF LOUISIANA THRIFT
WASHINGTON, Nov. 10 /PRNewswire/ -- For the second time today, SECOR Bank, FSB, Birmingham, Ala., acquired the insured deposits of an insolvent savings and loan--Twin City Savings, a FSA, West Monroe, La., which was placed in receivership by the Federal Savings and Loan Insurance Corporation (FSLIC).
Earlier today, SECOR acquired the insured deposits of Cypress Savings Association, Plantation, Fla., also put in receivership.
SECOR paid FSLIC a discount of $1.5 million to acquire the Twin City accounts, which will continue to be serviced out of the former Twin City offices. ...