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Investor Group Buys 84% of Riverside S

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Edmund Sanders covers financial institutions and fraud for The Times. He can be reached at (714) 966-5811 and at edmund.sanders@latimes.com

Irvine-based Financial Institutional Partners Mortgage Co., a large apartment building lender, said an investor group of its principals has completed the acquisition of approximately 84% of Mission Savings & Loan Assn. Riverside-based Mission, which has about $43 million in assets, will remain as a branch, but its headquarters will be relocated to Irvine and Mission’s name is expected to be changed to Commercial Capital Bank. . . . Pacific Western National Bank has moved its headquarters from Pico Rivera to Brea. The bank has about $150 million in assets. . . . Downey Savings, based in Newport Beach, has signed an agreement with America Online Inc. to provide mortgage services in the real estate section of AOL’s personal finance channel. . . . Bank of Orange County, based in Fountain Valley, said it has completed its merger with Fullerton-based Security First Bank.

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