BANKING

Glenfed CEO Wants to Sell Thrift: Glendale Federal Bank Chairman and Chief Executive Stephen J. Trafton said the thrift--one of the state’s largest--would like to be acquired. The best future for the Glendale-based company would be for an out-of-state commercial bank to swoop in with an offer, Trafton said. Merging with another bank would give Glenfed the marketing power to grab a larger share of the state’s banking market, he said. Glendale isn’t out soliciting offers and for now is operating as if it will remain independent. Although Glenfed officials have for several years described the possibility of a sale once it recovered from near-collapse in the early 1990s, Trafton’s comments were the boldest yet.