Bay View Capital Corporation receives approval for CTL Credit Inc. acquisition.SAN MATEO, Calif.--(BUSINESS WIRE)--June 11, 1996--Bay View Capital Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :BVFS), the holding company for Bay View Federal Bank and CTL Credit Inc. (NASDAQ:CTLI), the holding company for California Thrift and Loan, announced today that they have received the necessary regulatory approvals for the acquisition of CTL Credit, Inc. by Bay View Capital Corporation. The transaction is expected to close on Friday, June 14, 1996. CTL Credit stock will cease trading after the market close on that date. California Thrift and Loan has $500 million in assets. The company underwrites and purchases primarily high quality, high yielding consumer loans, and has successfully carved out a niche in the competitive auto finance industry. It is headquartered in Santa Barbara, California Santa Barbara is a city in California, United States. It is the county seat of Santa Barbara County, California. As of the 2000 census, the city had a total population of 92,325. and operates 19 offices throughout California and the western United States Noun 1. western United States - the region of the United States lying to the west of the Mississippi River West Santa Fe Trail - a trail that extends from Missouri to New Mexico; an important route for settlers moving west in the 19th century . After the close of the transaction, California Thrift and Loan will become a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Bay View Capital Corporation. Bay View Federal Bank, Bay View Capital Corporation's retail banking subsidiary, has $2.9 billion in assets and is headquartered in San Mateo. The Bank operates 26 full service community banking centers throughout the San Francisco Bay Area “Bay Area” redirects here. For other uses, see Bay Area (disambiguation). The San Francisco Bay Area, colloquially known as the Bay Area or The Bay . CONTACT: Bay View Capital Corporation Robert J. Flax, 415/312-7292 or Jan Schlesinger, 415/312-7454 |
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