After four years of battling against all odds to crawl out from under a mound of nonperforming assets and mounting losses, River Bank America has settled on the fastest solution to its woes: selling.

On Monday, the New Rochelle, N.Y.-based savings bank agreed to sell all of its deposits and most of its assets to Buffalo's Marine Midland Bank, the U.S. subsidiary of HSBC Holdings PLC, Hong Kong. Marine will pay $93 million for River Bank's 11 East River Savings Bank branches, $1.1 billion in assets, and $1.2 billion in deposits.

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