It's now called Sherman Oaks Savings Bank, but its only branch is in Newport Beach.
Still, the savings and loan formerly known as Westmark Savings Bank is poised for a tenfold increase in its $31 million in assets and for a bigger presence in Orange County, said Lee B. Hagerson, president of the S&L and its holding company, Sherman Oaks Financial.
If that sounds like the 20 investors behind Sherman Oaks Financial are about to acquire another S&L--possibly another Orange County institution--Hagerson is noncommittal.
"Our long-range goal is to acquire (other institutions) and become a $300-million to $500- million savings and loan," he said. "If things go according to our long-range plans, we definitely will have a presence in Orange County, but I don't want to say more."