SAN FRANCISCO -- BankAmerica Corp. said it had completed its acquisition of H.F. Holdings Inc., the parent of HonFed Bank in Honolulu.

HonFed, the largest thrift and third-largest financial institution in Hawaii, began operations last Saturday as Bank of America FSB, with 30 branches and $2.8 billion in assets. Hawaii is the 11th state in BankAmerica's retail banking network.

HonFed chairman and chief executive officer Gerald M. Czarnecki retained those titles.

Terms of the acquisition have not been disclosed. The companies reached a definitive agreement last October and received Fed approval July 14.

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