It's not only the large banks that are shedding branches.

Highland Federal Bank, a $504 million-asset Los Angeles thrift, this week sold its fourth branch this year in an effort to cut costs.

The thrift completed the sale of its branch in Woodland, Calif., to First Banks Inc., Creve Coeur, Mo. The $3.7 billion-asset First Banks bought the Woodland branch along with $42.4 million of deposits for $692,000 in cash.

The sale leaves Highland with seven branches.

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