Far West Finanacial Corp

Progressive Savings & Loan Assn. lost its third suitor in the past year on Thursday when Far West Financial Corp., the Newport Beach operator of Far West S&L, said it had called off its proposed acquisition of the troubled Alhambra institution. Far West said in a prepared statement that it determined that the deal "would not further its long-term objectives." Spokesman Charles H. Green would not explain further what the company's objectives are or why Progressive did not fit into its plans.

Progressive Savings & Loan Assn. lost its third suitor in the past year on Thursday when Far West Financial Corp., the Newport Beach operator of Far West S&L, said it had called off its proposed acquisition of the troubled Alhambra institution. Far West said in a prepared statement that it determined that the deal "would not further its long-term objectives." Spokesman Charles H. Green would not explain further what the company's objectives are or why Progressive did not fit into its plans.