Furthering its strategy of building a franchise in California, San Francisco-based First Nationwide Bank signed a definitive agreement to acquire Home Federal Financial Corp. for $70.6 million in cash, or 134% of the thrift's tangible book value.

Home Federal, which is also based in San Francisco, has $735 million of assets and $622 million of deposits. It operates 15 branches in Northern California under its subsidiary, Home Federal Savings and Loan Association.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.