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San Clemente Federal Savings Bank

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BUSINESS
May 9, 1993
Two savings and loans in Orange County are among 23 ordered put up for sale by the federal Resolution Trust Corp. They are First Newport Federal Savings Bank in Newport Beach, with $20 million in deposits, and San Clemente Federal Savings Bank with nearly $120 million. The 23 will be put up for sale because they are among the costliest to run, the RTC said. It costs the government about $3 million a day to run insolvent thrifts.
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BUSINESS
May 9, 1993
Two savings and loans in Orange County are among 23 ordered put up for sale by the federal Resolution Trust Corp. They are First Newport Federal Savings Bank in Newport Beach, with $20 million in deposits, and San Clemente Federal Savings Bank with nearly $120 million. The 23 will be put up for sale because they are among the costliest to run, the RTC said. It costs the government about $3 million a day to run insolvent thrifts.
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BUSINESS
June 13, 1992 | JAMES S. GRANELLI, TIMES STAFF WRITER
Federal thrift regulators, unable to find a buyer for troubled San Clemente Savings Bank during the past four months, seized the solvent but undercapitalized savings and loan on Friday. The Office of Thrift Supervision transferred the thrift's assets and liabilities to a newly chartered institution called San Clemente Federal Savings Bank. The new savings and loan will open for business as usual on Monday under conservatorship of the Resolution Trust Corp.
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