Wells Fargo agreed to sell a Hawaiian subsidiary.
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The San Francisco-based bank holding company reached an agreement in principle to sell Crocker Financial to First Hawaiian Creditcorp, the companies announced. Hawaiian-based Crocker Financial was part of Crocker National, which was recently acquired by Wells Fargo. Although the firms didn’t reveal the purchase price, they said the proposed sale involves $30 million in total assets. Crocker Financial and First Hawaiian Creditcorp are both industrial loan companies.
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