Buying In: UnionFed Financial Corp. said Monday...
Buying In: UnionFed Financial Corp. said Monday that its investors have agreed to purchase $25.1 million of the company’s stock in an offering aimed at reviving its ailing savings and loan subsidiary.
UnionFed, based in Brea, said it expects to raise another $12.4 million to $14 million from current stockholders before a Sept. 23 deadline to raise its capital, its last cushion against losses. Federal regulators have threatened to take over the thrift, Union Federal Savings Bank in Los Angeles, if the deadline is not met.
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