BANKING/FINANCE
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American Savings & Loan Assn. has opened a new branch in Newport Beach, its second in the city, its 14th in the county and its 185th office statewide.
American Savings, the nation’s largest S&L; with $33.4 billion in assets, added 28 branches last year to build up its retail deposits and increase its branch network so it could become more competitive with other large S&Ls;, the company has said previously.
Marty Ummel is the branch manager of its newest Newport Beach office, a 6,500-square-foot facility in the lobby of the AVCO building.
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