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Regulators took control of another California S&L.

October 12, 1985

A spokeswoman for the Federal Home Loan Bank Board said regulators placed Farmers Savings Bank in receivership because it was in an "unsafe and unsound condition." Davis-based Farmers Savings has $633 million in assets and branch offices in Davis, Sacramento and Dixon. The S&L will remain open with a new management team from California Federal Savings and a new board of directors chaired by Ed Fike, a former lieutenant governor of Nevada, the spokeswoman said. Farmers Savings' problems stem from an unstable deposit base and "excessive rapid growth," the spokeswoman said.

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