FAR WEST FINANCIAL <FWF> TO BUY PROGRESSIVE
Progressive Savings and Loan
Association <PRSL> said it has agreed in principle to be
purchased by Far West Financial Corp's Far West Savings and
Loan Association.
    The acquisition would be a cash merger, with Progressive
shareholders receiving up to three dlrs per share, the company
said.
    Progressive Savings has assets of about 500 mln dlrs and
operates ten offices in Los Angeles and Orange counties.
    The agreement is subject to federal and shareholder
approval.
 Reuter
