OTHER NEWS - June 18, 1992
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Dissident Group Wins Bank Fight: The group gained control of Downey-based SC Bancorp in a proxy fight by ousting five directors, including Chairman Frank Tomlinson. The dissidents, led by former directors Donald E. Wood and Le Grande Coates Jr., had criticized the bank’s lackluster performance, sagging stock price and dividend policies. Larry D. Hartwig, president and chief executive, had remained neutral in the fight and plans to remain with the bank. SC Bancorp is the parent of Southern California Bank, which has 16 offices.
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