IRWINDALE, Calif. - Home Savings of America said it signed a definitive agreement to acquire eight central California branches of Coast Federal Bank, a unit of Coast Savings Financial Inc.
The branches - four in Fresno, two in Visalia, and one each in Sanger and Tulare - have about $275 million in total deposits. The purchase terms were not disclosed.
Home Savings' parent, H.F. Ahmanson and Co., said it expected to complete the transaction in the fourth quarter. Ahmanson, the nation's largest thrift company, has $46 billion in assets and 389 deposit-taking branches in nine states. Coast has $8.5 billion in assets and more than 100 branches in California.