	citicorp cci savings extends california reach citicorp has extended its reach into the california market with citicorp savings uisition of of sears roebuck s s sears savings bank branches bringing its presences to branches in communities citicorp savings said thrift industry analysts said the move approved by the federal reserve board today is a plus for citicorp and shows its serious intent to penetrate the california market the uisition mostly extends citicorp s reach into southern california where of the branches are located citicorp savings was predominantly in northern california this marks our first major expansion in california particularly in the south said citicorp savings president edward valencia in a statement thrift industry sources said they do not see a major near term impact on the southern california thrift market but do expect citicorp to be a more aggressive competitor than sears was in that market we do believe they will be a better competitor than sears said james stutz executive vice president of home federal savings and loan association hfd based in san diego banking industry sources said the move is viewed as groundwork to establish citicorp throughout the california market well before the law change that will allow it to operate as a bank in the state they said citicorp is likely to convert the branches to banks at that time in the near term however analysts said with seven billion dlrs in assets citicorp savings is still not a major force in the thrift market against such large california thrifts as home federal great western financial corp gwf h f ahmanson and co ahm golden west financial gwd and great american first savings bank gta reuter 
