OneWest takes over First Fed's banking operations
OneWest Bank FSB just got a lot bigger. The bank, which scooped up failed mortgage lender IndyMac Bank earlier this year, announced late last week that it had completed its acquisition of the banking operations of First Federal Bank of California from the Federal Deposit Insurance Corp. First Federal was closed Friday by the Office of Thrift Supervision, which appointed the FDIC as receiver. The 39 branches of First Federal reopened Saturday as branches of OneWest Bank FSB. First Federal depositors will automatically become depositors of OneWest Bank. OneWest acquired $6.1 billion in assets, including $5.3 billion in loans and $4.5 billion in deposits.
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