First Network Savings Seized: California S&L; regulators...
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From Times Staff and Wire Service Reports
First Network Savings Seized: California S&L; regulators said they have seized the troubled First Network Savings Bank in Los Angeles and its Tahoe Savings division. The thrift has seven branches in Northern California and about $410 million in assets. The department also removed four officers, including Chairman Carl M. Rheuban. The thrift will maintain normal business hours and deposits will continue to be federally insured up to $100,000.
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