Analysis of information sources in references of the Wikipedia article "Old Stone Bank" in English language version.
Federal regulators yesterday seized the crippled Old Stone Bank, Rhode Island's second bank failure in two months.
Eighteen branch offices of the newly merged Citizens Bank and former Old Stone Bank will close in mid-January, requiring tens of thousands of customers to move to new locations... Eleven of the 28 Old Stone branches, including the 140-year-old, gold-domed building on South Main Street in downtown Providence that symbolized Old Stone, will be closed. Customers of those branches will be directed to nearby Citizens branches. Seven Citizens branches will close. Customers of those offices will be directed to former Old Stone locations.
Citizens Federal Savings & Loan today became Old Stone Bank of Washington in a government-orchestrated acquisition by the Old Stone Corp. of Providence, R.I. The new organization, a federal savings bank, will operate as a subsidiary of Old Stone Corp. Deposits will continue to be insured by the Federal Savings & Loan Insurance Corp. (FSLIC).
A financially strapped agency that insures savings and loan deposits had to provide nearly $79 million to induce new ownership for Seattle's financially ailing Citizens Federal Savings & Loan. The Federal Savings & Loan Insurance Corp. (FSLIC), its resources rapidly depleting and its future clouded by congressional efforts to recapitalize it, put up the money so Old Stone Corp. of Providence, R.I., would step in to rescue Citizens. The government-orchestrated acquisition, which yesterday turned Citizens into Old Stone Bank, required the buyer to pump in about $15 million for the troubled lending institution while the Federal Home Loan Bank's insurance arm put up $78.7 million.
Old Stone Corp. said it has completed the sale of its Washington state retail division, Old Stone Bank of Washington, to Washington Mutual for about $10 million... In 1985, Old Stone acquired the troubled bank, which was formerly the Citizens Federal Savings and Loan Association.
Citizens Financial Group Inc said its Citizens Bank unit's bid for deposits and certain loans of Old Stone FSB was accepted by RTC. Terms were not disclosed. Old Stone Bank, which was Rhode Island's fourth largest bank, was placed in receivership in 1993.
The OTS has placed Old Stone Corp's Old Stone Bank unit in receivership and chartered a new federal mutual institution to take its place. The OTS said that as of Sep 30, 1992, Old Stone Bank's nonperforming assets totaled $279.1 million, or 14.5% of assets. The new federal institution will be called Old Stone FSB.
The Citizens Bank unit of Citizens Financial Group Inc has acquired all the deposits and some loans of Old Stone FSB from the RTC for a premium of $133.6 million. Citizens Financial is a unit of Royal Bank of Scotland Group PLC.
The Federal Home Loan Bank Board approved the acquisition of ailing Citizens Savings & Loan Association, Seattle, by Old Stone Corp., a Providence, R.I., thrift holding company. Citizens, a mutual thrift with $477.4 million in assets, was converted to a federally chartered stock savings bank, Old Stone Bank of Washington, effective yesterday. Old Stone Corp. has $3.7 billion in assets. To enable the takeover to occur, the Federal Savings and Loan Insurance Corp. will give the new savings bank some cash and indemnify it from certain liabilities and "possible litigation resulting from the acquisition," a Bank Board spokesman said.
Old Stone Corp. Thursday announced the signing of a definitive agreement to sell its Washington state retail division, Old Stone Bank of Washington, to Washington Mutual, a Federal Savings Bank. Originally named Citizens Federal Savings and Loan Association, Old Stone Bank of Washington was acquired with federal assistance by Old Stone Corp. at the end of the 1985.
Old Stone Corp. Thursday announced it has completed the sale of its Washington state retail division, Old Stone Bank of Washington, to Washington Mutual, a federal savings bank, a subsidiary of Seattle-based Washington Mutual Savings Bank, for a pre-tax gain of approximately $10 million. Old Stone and Washington Mutual reached a definitive purchase agreement on Jan. 25, 1990 and received regulatory approval for the sale from the Office of Thrift Supervision on April 6, 1990.
Citizens Financial Group Inc said its Citizens Bank unit's bid for deposits and certain loans of Old Stone FSB was accepted by RTC. Terms were not disclosed. Old Stone Bank, which was Rhode Island's fourth largest bank, was placed in receivership in 1993.
The OTS has placed Old Stone Corp's Old Stone Bank unit in receivership and chartered a new federal mutual institution to take its place. The OTS said that as of Sep 30, 1992, Old Stone Bank's nonperforming assets totaled $279.1 million, or 14.5% of assets. The new federal institution will be called Old Stone FSB.
The Citizens Bank unit of Citizens Financial Group Inc has acquired all the deposits and some loans of Old Stone FSB from the RTC for a premium of $133.6 million. Citizens Financial is a unit of Royal Bank of Scotland Group PLC.
The Federal Home Loan Bank Board approved the acquisition of ailing Citizens Savings & Loan Association, Seattle, by Old Stone Corp., a Providence, R.I., thrift holding company. Citizens, a mutual thrift with $477.4 million in assets, was converted to a federally chartered stock savings bank, Old Stone Bank of Washington, effective yesterday. Old Stone Corp. has $3.7 billion in assets. To enable the takeover to occur, the Federal Savings and Loan Insurance Corp. will give the new savings bank some cash and indemnify it from certain liabilities and "possible litigation resulting from the acquisition," a Bank Board spokesman said.
