Chase Manhattan Corp. and Republic New York Corp. are quietly angling to buy the branches and deposits of troubled American Savings Bank, sources say.

The bidding for the White Plains, N.Y.-based thrift looks like a replay of the contest for Crossland Savings earlier this year. Both Chase and Republic bid for Crossland's deposits, though the government chose in the end to try to nurse the thrift back to health. Chase also was believed to have pursued the 63 Barclays New York branches that Bank of New York agreed to buy last week.

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.