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HOME SAVINGS OF AMERICA TO EXCHANGE BRANCHES WITH FARM & HOME SAVINGS

 IRWINDALE, Calif., Nov. 30 ~PRNewswire~ -- Home Savings of America, the nation's largest savings institution and the principal subsidiary of H.F. Ahmanson & Co. (NYSE: AHM), announced that it will exchange five of its Savings of America branches in Missouri for three Texas branches of Farm & Home Savings Association, the principal subsidiary of Farm & Home Financial Corp. (NASDAF?AHS). The transaction is scheduled to be concluded on March 5, 1993, providing time for a smooth transition.
 The three Farm & Home branches are located in Dallas, Houston and Fort Worth and have deposits totalling approximately $150 million. Home Savings of America currently operates 30 Savings of America branches in Texas, nine of which are located in the Dallas~Fort Worth area, 15 in the Houston area, three in the Beaumont area and three in the San Antonio area. In addition, it operates five mortgage lending offices in Texas.
 Letters to assist Farm & Home customers with an easy transition to Savings of America will be mailed in the next several days. No changes in operations, however, will be made until March.
 According to Savings of America, this exchange of branches allows it to expand its network of branches in Texas and is consistent with its strategy to grow its operations in its primary markets in large metropolitan areas.
 As a result of the branch exchange, Farm & Home will cease retail branch banking in Dallas, Fort Worth and Houston, completing a gradual withdrawal from those markets while continuing to expand its mortgage banking business in Texas. It will continue to operate retail branches in several other Texas cities.
 Savings of America is a division of Home Savings of America, the nation's largest savings institution. Home Savings, with more than $47 billion in assets and more than $39 billion in deposits, has 378 savings branches in nine states and 92 mortgage lending offices in 13 states. For the first nine months of 1992, the company reported net earnings of $188.6 million. Its capital ratios exceed all current regulatory requirements.
 -0- 11~30~92
 ~CONTACT: Mary Trigg of Home Savings of America, 818-814-7922; or Al Tangora of Farm & Home Savings Association, 816-891-7778~
 (AHM FAHS)


CO: Home Savings of America; H.F. Ahmanson & Co.;
 Farm & Home Savings Association; Farm & Home Financial Corp. ST: California, Texas IN: FIN SU: TNM


JL -- LA022 -- 2059 11~30~92 16:27 EST
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Publication:PR Newswire
Date:Nov 30, 1992
Words:392
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