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A motivated buyer.

A Motivated Buyer

Is Frank Lyon Jr. a prime candidate to buy First Savings? That's what some bankers think.

They give three reasons.

First, Lyon has been unable to sell $591-million Twin City Bank over the past few years, and the addition of First Savings' assets might give the bank a nice boost.

Second, the Lyon financial empire was dismantled in recent years partly because Lyon had been diagnosed with a possibly terminal case of cancer. That diagnosis has since been changed to a far milder form of cancer, and friends say his prospects now look good.

Third, and maybe most important, Lyon owns the 160,000-SF building that houses First Savings. Right now the thrift occupies two floors of the building.

But others speculate that the smoothest move of all would be for TCB to simply move in and replace First Savings when the government repudiates the lease -- without buying the thrift.

That move would allow TCB to have a strong corporate presence on both sides of the river.

The Resolution Trust Corp. seems intent upon selling the thrift within months, so the question should be quickly resolved.
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Title Annotation:Frank Lyon Jr. to buy First Savings
Publication:Arkansas Business
Date:Apr 15, 1991
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