Columbia to Buy Bank Deposits: Columbia Savings...
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Columbia to Buy Bank Deposits: Columbia Savings & Loan Assn. signed a letter of intent to buy deposits of six Southern California branches owned by Atlantic Financial Savings Bank. The offices, in Century City, Santa Monica, Mid-Wilshire, Rancho Park, Sherman Oaks and Northridge, have $170 million in deposits and are part of Beverly Hills-based Columbia’s strategy to decrease its dependence on brokered deposits from large investors seeking high rates. The deal is subject to regulatory approvals.
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