Office of Thrift Supervision

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FOR RELEASE at 4:00 P.M. EST For further information
Tuesday, October 29, 2002 Contact: Sam Eskenazi
OTS 02-41 202/906-6677

OTS Approves Citibank Acquisition Of California Federal Bank

OTS APPROVES CITIBANK ACQUISITION OF CALIFORNIA FEDERAL BANK WASHINGTON – The Office of Thrift Supervision (OTS) announced today that it has approved an application by Citigroup, Inc., to organize a new federal savings bank, Citibank (West), FSB, to acquire Golden State Financial Corp.’s subsidiary, California Federal Bank, FSB.

A copy of the letter approving the application is available at www.ots.treas.gov.

Approval Letter PDF Document<

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The Office of Thrift Supervision (OTS), a bureau of the U.S. Treasury, regulates and supervises the nation's thrift industry. OTS's mission is to ensure the safety and soundness of thrift institutions and to support their role as home mortgage lenders and providers of other community credit and financial services. For copies of news releases or other documents visit the OTS web page at www.ots.treas.gov.


Created: Tuesday, 10/29/2002