SAN FRANCISCO -- Stephen T. McLin, chairman of EurekaBank, announced that the thrift's assistance agreement with the Resolution Trust Corp. will conclude Wednesday, as scheduled.
The termination comes about five years after EurekaBank was acquired from the government by America First Financial Fund 1987-A.
"EurekaBank has managed a portfolio of $200 million of extremely troubled real estate assets on behalf of the government down to a level of approximately $6 million," said Mr. McLin, a former top strategist at BankAmerica Corp.
"This has been a good transaction for everyone," he said. "EurekaBank now provides employment for nearly 500 people, has generated an attractive return to its investors, and has realized material values for the government through our management of this pool of troubled loans."