Westlake Thrift & Loan of Westlake Village,...
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Westlake Thrift & Loan of Westlake Village, with assets of $41.1 million, went out of business, and federal officials said its insured deposits and fully secured loans were transferred to Independence Bank. Los Angeles-based Independence Bank, with 14 offices, took over the accounts after the Federal Deposit Insurance Corp. received no acceptable offers for Westlake. FDIC did not give a reason for the failure. Westlake had $36.6 million deposited in 2,000 accounts, FDIC said.
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