Printer Friendly

HOME SAVINGS OF AMERICA AGREES TO ACQUIRE 10 BRANCHES OF LONG ISLAND SAVINGS BANK, FSB

 IRWINDALE, Calif., May 3 /PRNewswire/ -- Home Savings of America, the principal subsidiary of H.F. Ahmanson & Co. (NYSE: AHM), and Long Island Savings Bank, FSB, today announced that they have reached an agreement in principle for Home Savings to acquire 10 of Long Island Savings Bank's branches.
 The 10 Long Island Savings Bank branches, with deposits totaling
approximately $950 million, are all located on Long Island. They include five branches in Queens, four in Suffolk, and one in Nassau. This acquisition will increase the number of Home Savings' branches in Queens to 16, nine in Suffolk, and 19 in Nassau, bringing the total number of Home Savings of America branches in New York to 65 with deposits of approximately $8.5 billion.
 After the sale, Long Island Savings Bank will continue to be the largest thrift headquartered on Long Island, with more than $4 billion in assets, operating 38 branches in the area.
 This transaction is subject to the signing of a definitive agreement as well as the approval of federal banking regulators. Financial terms of the transaction were not disclosed.
 Home Savings of America is the nation's largest savings institution and one of the nation's leading mortgage lenders. With assets of more than $48 billion and deposits of more than $39 billion the company operates 382 savings branches in nine states and 92 mortgage lending offices in 13 states.
 -0- 5/3/93
 /CONTACT: Samantha Davies of Home Savings of America, 818-814-7924; or Robert Volk of The Long Island Savings Bank, FSB, 516-547-3102/
 (AHM)


CO: Home Savings of America; H.F. Ahmanson & Co. ST: California IN: FIN SU: TNM

EH -- LA020 -- 3813 05/03/93 12:41 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:May 3, 1993
Words:279
Previous Article:DUFF & PHELPS: BERKSHIRE LIFE INSURANCE COMPANY CLAIMS PAYING ABILITY RATED 'AA'
Next Article:NETWORK IMAGING DISTRIBUTION AGREEMENT WITH ACCESS GRAPHICS VALUED AT $30 MILLION
Topics:


Related Articles
HOME SAVINGS OF AMERICA ACQUIRES COUNTY BANK IN SANTA BARBARA
BANKERS FIRST TO SELL SAVANNAH BRANCHES TO LIBERTY SAVINGS BANK
POUGHKEEPSIE SAVINGS BANK REPORTS DISPOSITION OF TWO MAJOR NON-PERFORMING ASSETS
METROPOLITAN FINANCIAL & WESTERN FINANCIAL MERGER APPROVED
BRANCH BANKING AND TRUST COMPANY COMPLETES ACQUISITION OF 1ST HOME FEDERAL'S WINSTON-SALEM AND RALEIGH OPERATIONS
METROPOLITAN FINANCIAL COMPLETES EUREKA SAVINGS BANK MERGER AND EXPANDS KANSAS PRESENCE
HOMEFED BANK, F.A., SAN DIEGO, CALIF., ACQUIRED BY FOUR FINANCIAL INSTITUTIONS
FIRST FEDERAL SAVINGS BANK OF PUERTO RICO TO SELL ITS FLORIDA THRIFT SUBSIDIARY
THE LONG ISLAND SAVING BANK, FSB EXPANDS MORTGAGE PRODUCTION CAPABILITIES
HOME SAVINGS OF AMERICA AGREES TO PURCHASE A BRANCH OF UNITED SAVINGS BANK, F.S.B.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters