Palm Springs Savings Bank in Southern California said it had signed a definitive agreement to be acquired by HF Bancorp.

The announcement Friday came three days after Palm Springs Savings issued a press release confirming that it was involved in merger talks, although it wouldn't name the suitor. Chief executive Stephen G. Hoffmann said the release was a response to a run-up in the stock's price.

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.