After a decade in Californnia, a small Illinois bank holding company
Countryside-based SBC Inc. has dissolved a thrift subsidiary in Fontana,
Last year SBC whittled down the assets of Secure Savings Bank to $20
The process was formally completed about a month ago, after the Federal
SBC continues to run $350 million-asset State Bank of Countryside.
Secure Savings, which had about $45 million of assets when SBC bought it
"It just took up too much time," he said. "It was too small to compete
Last year SBC concluded that the thrift couldn't grow much. The banking
SBC tried to sell the thrift but found no depository institutions
Several individual buyers came forward, but SBC officials preferred the
Failing to find one, they opted to shut the thrift down.
"It was just too small," Mr. Shea said. "We never should have bought