A California thrift seems to have jumped the gun in announcing a branch purchase plan.
A week ago $884 million-asset Provident Savings Banks of Riverside, Calif., announced the "proposed purchase" of two branches from $3.5 billion-asset Bank Plus Corp. of Los Angeles.
But the next day Provident announced that a definitive agreement could not be reached, that an application for Office of Thrift Supervision approval had been withdrawn, and that talks had ended.
Neil Osborne, director of investor relations at $3.5 billion-asset Bank Plus, said it "will continue to pursue opportunities" with other buyers. Bank Plus, the parent of Fidelity Federal Bank, is seeking to sell the branches to improve its capital levels.