S. California Savings Sells Thousand Oaks Deposits
Southern California Savings said it has agreed to sell the $21 million of deposits at its Thousand Oaks branch to County Savings Bank of Santa Barbara, which also has an office in Thousand Oaks. The sale price was not disclosed.
Southern California Savings, headquartered in Beverly Hills, has 30 branches and total assets of $1.7 billion. County Savings, with nine branches in Santa Barbara, Ventura and San Luis Obispo counties, has assets of $1.3 billion.
The sale is to be effective Aug. 22. Deposits at the branch are to be automatically transferred to County Savings, and holders of the deposits will be given new account numbers.
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