Seized Canoga Park Thrift to Be Managed by Agent
The federal government has seized Vista Savings Bank in Canoga Park and appointed the Resolution Trust Corp. as receiver.
The troubled savings and loan, which has been renamed Vista Federal Savings Assn., will be managed by an RTC-appointed agent while the RTC negotiates a permanent resolution for Vista.
The RTC, established by Congress to manage and sell failed thrifts and protect depositors’ funds, said Vista had $99.7 million in assets and about $95 million in liabilities, including $86.3 million in 927 deposit accounts. Vista Federal will maintain normal business hours and its deposits will continue to be federally insured.
Sign up for Essential California
The most important California stories and recommendations in your inbox every morning.
You may occasionally receive promotional content from the Los Angeles Times.
