WASHINGTON -- The Resolution Trust Corp. has approved the sale of three failed thrifts.
Household Bank of Newport Beach, Calif., will assume $119 million of insured deposits from $119 million-asset San Clemente Federal Savings Bank. Household paid the RTC $382,595 for the deposits and paid an additional $31.5 million for the same amount of cash, cash equivalent, and share loan assets.
Separately, Summit (N.J.) Bank paid the RTC $4.6 million for $87.6 million of deposits from the failed Marine View Federal Savings Bank in Middletown, N.J.
Summit is also buying $40 million of failed thrift's assets. Marine View Federal had $93.3 million of assets when it failed.
Also, First Commercial Bank, Birmingham, Ala., agreed to pay the RTC $888,889 for $53.1 million in deposits of failed Birmingham Federal Savings Bank. First Commercial is also buying $19.9 million of the failed thrift's assets. Birmingham Federal had $52.6 million in assets when it failed.
