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Rancho Bernardo Savings Bank

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BUSINESS
October 27, 1990 | GREG JOHNSON, TIMES STAFF WRITER
The federal Office of Thrift Supervisions on Friday placed long-struggling Rancho Bernardo Savings Bank into receivership and created a new federally chartered S&L that will assume many of the failed institution's assets and liabilities. The failed savings bank that had $119 million in assets on Sept. 30 reported nearly $5 million in losses during the past two years. Most of the losses were generated by a subsidiary's involvement in a troubled residential development in Escondido.
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BUSINESS
June 10, 1991 | From Times Staff and Wire Reports
The Resolution Trust Corp. has approved the sale of two troubled California thrifts--Rancho Bernardo Federal Savings Bank and Liberty Federal Savings Bank--to financial institutions. Rancho Bernardo's branches and its $101 million in assets were acquired by La Jolla Bank of La Jolla and International Savings Bank of San Diego. Liberty Federal Savings Bank of Montebello was sold to Commerce National Bank of City of Commerce.
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BUSINESS
June 11, 1986
Gail M. T. Owashi has been named loan officer at Rancho Bernardo Savings Bank.
BUSINESS
October 27, 1990 | GREG JOHNSON, TIMES STAFF WRITER
The federal Office of Thrift Supervisions on Friday placed long-struggling Rancho Bernardo Savings Bank into receivership and created a new federally chartered S&L that will assume many of the failed institution's assets and liabilities. The failed savings bank that had $119 million in assets on Sept. 30 reported nearly $5 million in losses during the past two years. Most of the losses were generated by a subsidiary's involvement in a troubled residential development in Escondido.
BUSINESS
September 6, 1990 | James S. Granelli Times staff writer
James P. Gough of Irvine figures he isn't like most people who invest in savings and loans. "I'm willing to put what I've got where my mouth is," said Gough, who has been a thrift management consultant for the last five years. Gough recently took over as president of Rancho Bernardo Savings Bank in San Diego, pledging most of the $2.5 million that he and two other investors plan to infuse into the weak thrift.
BUSINESS
May 5, 1989
Rancho Bernardo Savings Bank has completed a definitive agreement to be acquired by Citadel Holding Corp.'s Fidelity Federal Savings & Loan subsidiary, the companies said Thursday. According to terms of the previously announced agreement, Rancho Bernardo shareholders will receive $23 a share, or $6 million. The acquisition now must be approved by Rancho Bernardo shareholders and various state and federal regulators. Glendale-based Fidelity Federal, with $4.8 billion in assets, has 34 offices in California.
BUSINESS
January 29, 1987
Brenda D. Salazar has been appointed vice president of savings/operations for Rancho Bernardo Savings Bank.
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