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INDUSTRY NOTES

Bank Sells Investment Subsidiary

October 08, 1987

California First Bank has sold its California First Capital Management subsidiary to the La Jolla-based operation's four principals. William Jeffery III, Edward O. Nay III, Kenneth F. McCain and John R. French will continue to provide investment advice for portfolios of more than $5 million.

The subsidiary provided investment advisory services for about $55 million of California First's $3.4 billion in client funds. The independent operation will retain those accounts, but California First will retain the California First Capital Management name.

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