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.

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