STANDARD PACIFIC &lt;SPF> ACQUIRES SOUTH BAY S/L

  Standard Pacific LP said it
  has acquired substantially all of the assets and liabilities of
  South Bay Savings and Loan Association of Newport Beach.
      The firm said over the weekend that it will conduct its
  savings and loan activities through Standard Pacific Savings
  FA, a Federal stock association.
      On Friday, the Federal Home Loan Bank Board in Washington
  said it approved the acquisition of South Bay S and L, a 62.5
  mln dlr state-chartered stock association, by Standard Pacific,
  which has 312.8 mln dlrs in assets.
      The Bank Board said that the Federal Savings and Loan
  Insurance Corp will make a cash contribution, provide capital
  loss coverage and indemnify Standard Pacific against
  undisclosed liabilities.
  

