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August 11, 1993 | From Times Staff and Wire Reports
First Interstate Bancorp. to Take Restructuring Charge: The company will take the $52-million charge on its 1994 first-quarter earnings because of severance and other costs relating to its $340-million acquisition of San Diego Financial Corp., parent of San Diego Trust & Savings Bank.
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BUSINESS
August 11, 1993 | From Times Staff and Wire Reports
First Interstate Bancorp. to Take Restructuring Charge: The company will take the $52-million charge on its 1994 first-quarter earnings because of severance and other costs relating to its $340-million acquisition of San Diego Financial Corp., parent of San Diego Trust & Savings Bank.
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BUSINESS
August 10, 1993 | CHRIS KRAUL, TIMES STAFF WRITER
In a deal that illustrates the accelerating consolidation in California's banking industry, First Interstate Bancorp said Monday that it will acquire the parent company of San Diego Trust & Savings Bank in a stock swap valued at $340 million. The acquisition of San Diego Financial Corp. will quadruple First Interstate's presence in a county where it has been badly outgunned by Wells Fargo and Bank of America. The deal is expected to be final by year's end.
BUSINESS
August 10, 1993 | CHRIS KRAUL, TIMES STAFF WRITER
In a deal that illustrates the accelerating consolidation in California's banking industry, First Interstate Bancorp said Monday that it will acquire the parent company of San Diego Trust & Savings Bank in a stock swap valued at $340 million. The acquisition of San Diego Financial Corp. will quadruple First Interstate's presence in a county where it has been badly outgunned by Wells Fargo and Bank of America. The deal is expected to be final by year's end.
BUSINESS
March 17, 1987 | GREG JOHNSON, Times Staff Writer
Many of San Diego's smaller banks probably would benefit if Congress were to pass legislation to expand the role that banks can play in the securities industry, according to Dennis Kelleher, president of the Washington-based Dealer Bank Assn. The Dealer Bank Assn.
BUSINESS
March 19, 1991 | GREG JOHNSON, TIMES STAFF WRITER
At a time when many of the country's financial institutions are being skewered by increasingly tough regulatory capital requirements, San Diego Trust & Savings Bank remains well above minimum capital levels, bank officers said Monday. "The bank is in good shape," Daniel D. Herde, president and chief executive of San Diego Financial Corp., San Diego Trust's parent company, told shareholders at their annual meeting Monday at the downtown University Club.
BUSINESS
May 1, 1995 | ANDREA ADELSON, SPECIAL TO THE TIMES
James E. Mitchell is a buttoned-down, old-fashioned businessman who makes his living in an unorthodox way. From the 11th floor of a Costa Mesa office building, he manages one of the few portfolios in the country devoted exclusively to stocks traded in the "pink sheets," long considered the dogs of Wall Street. It's not for the faint of heart. The pink sheets are where new companies start out and where slow-growing companies can languish.
NEWS
November 7, 1989 | ROBERT A. ROSENBLATT and JAMES BATES, TIMES STAFF WRITERS
Federal regulators said Monday that 800 savings and loan associations--almost one-third of the industry--may fail tough new capital standards to be imposed next month. Institutions that cannot meet the rules by Dec. 7--possibly including a few larger thrifts in California--will be forbidden to expand financially and will be required to submit detailed business plans for the scrutiny and approval of federal regulators.
BUSINESS
May 7, 1995 | ANDREA ADELSON, SPECIAL TO THE TIMES
James E. Mitchell is a buttoned-down, old-fashioned businessman who makes his living in an unorthodox way. From the 11th floor of a Costa Mesa office building, he manages one of the few portfolios in the country devoted exclusively to stocks traded in the "pink sheets," long considered the dogs of Wall Street. It's not for the faint of heart. The pink sheets are where new companies start out and where slow-growing companies can languish.
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