WASHINGTON -- A company controlledl by billionire Robert M. Bass has made a preliminary proposal to buy the insolvent American Savings Bank, a prominent New York-area thrift.

If the Bass company goes ahead with a bid, it would compete against Chase Manhattan Corp. and Republic New York Corp., which sources said have already filed proposals with the Federal Deposit Insurance Corp.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

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