OTS OKs GlenFed, CalFed Merger

The Office of Thrift Supervision has approved the merger of Golden State Bancorp Inc., Glendale, Calif., with First Nationwide (Parent) Holdings Inc., Los Angeles.Golden State is the parent of Glendale Federal Bank and First Nationwide is the parent of California Federal Bank FSB. The merger, announced in February, will create the second-largest thrift in the nation, to be named California Federal Bank at the operating level and Golden State Bancorp at the holding company level, Golden State said. A special Golden State shareholders meeting is scheduled for Aug. 17 to approve the merger. Glendale Federal's website address is http://www.glendalefederal.com.

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