WASHINGTON – In coordinated moves late Friday, regulators closed two troubled Southern California thrifts, and sold their banking operations to Minneapolis-based U.S. Bank.

The Office of Thrift Supervision closed $12.8 billion-asset Downey Savings and Loan in Newport Beach, and $3.7 billion-asset PFF Bank & Trust in Pomona, on a busy night for bank closings. The evening began with the closing of a community bank in Georgia, the third failure in the state this year.

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