Westlake Village Bank Closed: Olympic National Bank...

Westlake Village Bank Closed: Olympic National Bank of Los Angeles acquired United Community Bank in Westlake Village after state regulators closed the institution. United Community, with $32 million in assets, was suffering losses due to the demise of its thrift subsidiary, Westlake Thrift & Loan, which was closed by federal regulators in July, 1988. A former president of the subsidiary last week pleaded guilty to federal charges in connection with an alleged phony loan scheme.