RTC Orders Sale of 2 O.C. Thrifts
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Two savings and loans in Orange County are among 23 ordered put up for sale by the federal Resolution Trust Corp.
They are First Newport Federal Savings Bank in Newport Beach, with $20 million in deposits, and San Clemente Federal Savings Bank with nearly $120 million.
The 23 will be put up for sale because they are among the costliest to run, the RTC said. It costs the government about $3 million a day to run insolvent thrifts.
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