Shares of SGV Bancorp shot up more than 35% Friday, after the company said IndyMac Mortgage Holdings Inc. had submitted an "expression of interest" in acquiring it. "No agreement has been reached, and negotiations are continuing," SGV said in a written statement.

Earlier last week, IndyMac had said it was changing its business strategy, and that it planed to acquire a California-based savings and loan. Shares of SGV Bancorp closed at $12.375, up $4.375.

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