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CALIFORNIA FEDERAL BANK ANNOUNCES AGREEMENT TO SELL SACRAMENTO DEPOSITS

 CALIFORNIA FEDERAL BANK ANNOUNCES AGREEMENT
 TO SELL SACRAMENTO DEPOSITS
 LOS ANGELES, Jan. 8 /PRNewswire/ -- California Federal Bank, FSB, today announced an agreement to sell the deposits of its two Sacramento branches to Sacramento Savings Bank. The two California Federal branches are located at 591 Watt Ave. and 1435 River Park Drive. The approximately $60 million in deposits will be consolidated into nearby Sacramento Savings Bank branches.
 Terms of the agreement were not disclosed. Los Angeles-based California Federal Bank, a Federal Savings Bank, is the consumer banking subsidiary of CalFed Inc. (NYSE: CAL). With more than $18 billion in assets, California Federal Bank provides home mortgage loans and retail banking services through more than 180 branches in California, Florida, Nevada and Georgia.
 -0- 1/8/92
 /CONTACT: Rhanda Dunn, 213-932-2283 or Frank Moore, 213-932-4203, of CalFed Inc.; or Archie Milligan, 916-921-5900 of Sacramento Savings/
 (CAL) CO: California Federal Bank; Sacramento Savings ST: California IN: FIN SU:


EH -- LA017 -- 7890 01/08/92 15:01 EST
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Publication:PR Newswire
Date:Jan 8, 1992
Words:164
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