February 27, 1992 |
BofA Deal to Divest Disclosed: Oregon's U.S. Bancorp has agreed to pay $70 million to buy 20 Northern California branches and 29 Nevada branches being sold as part of San Francisco-based BankAmerica Corp.'s pending merger with Los Angeles rival Security Pacific Corp. The sale is the first in BankAmerica's previously announced divestiture of $7.3 billion in deposits to ease antitrust concerns over the merger. The branches being sold have $1.
CALIFORNIA | LOCAL
December 19, 1989
The Security Pacific Corp. has announced that it is donating $1 million to the national Drug Abuse Resistance Education (DARE) program. An immediate gift of $500,000 was described as the largest single cash contribution to DARE since the program was developed in 1983 by the Los Angeles Police Department and the Los Angeles Unified School District.
September 7, 1989 |
Majority stakes in three foreign securities affiliates of Security Pacific Corp. may be sold to their managements, the Los Angeles bank holding company said Wednesday. Security Pacific Corp., parent of Security Pacific National Bank, said the plan is under consideration in part because the company believes that giving senior management of the securities firms greater control over operations would make the entities more effective.
July 20, 1991 |
Security Pacific Corp., signaling that it is back in the hunt for large failed thrifts, late Friday said it paid $35 million for the last major one available in Arizona: Southwest Savings & Loan in Phoenix. The Los Angeles-based banking firm gets $1.4 billion in deposits and 47 branches from the Resolution Trust Corp. under the deal.