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Home Savings to Close 14 Branches, 2 Locally

July 09, 1996|BARBARA MURPHY

Home Savings of America has announced plans to close 14 branch offices this summer, including two in Ventura County.

The branches are located in areas where Home Savings' purchase of 61 First Interstate Bank branches created overlaps with its own retail offices.

Home Savings bought the branches from Wells Fargo & Co., which was ordered to sell them when it bought First Interstate Bancorp.

The First Interstate branches are located in 21 California counties and have about $2.5 billion in deposits and $1.3 billion in loans.

Home Savings said the 14 closures are the first phase of its planned branch consolidations.

The Ventura County branches that will close are at 3310 Telegraph Road in Ventura and 2671 N. Ventura Road in Port Hueneme.

Affected customers were notified by letter that their accounts are being moved to nearby branches.

Home Savings of America is California's third-largest financial-services institution and the nation's largest savings and loan.

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