The FHLBB closed Presidio Savings & Loan.
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In addition, the Federal Home Loan Bank Board appointed the Federal Savings and Loan Insurance Corp. as receiver of the Porterville, Calif., S&L; and directed the FSLIC to transfer insured deposits to branches of Beverly Hills-based Gibraltar Savings. Presidio’s three offices will reopen today, giving depositors with insured funds immediate access and the ability to transact business as usual. Federal officials said Presidio S&L; had grown rapidly since the second half of 1982 with a heavy reliance on brokered funds.
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