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Osborne increases thrift investment. (Richard Osborne; First American Savings Bank)
Crain's Cleveland Business, July, 1991
Osborne increases thrift investment Local thrift investor Richard Osborne is still on the prowl. Mr. Osborne reported to the Securities and Exchange Commission the purchase of another 21,000 shares of stock in Canton-based First American Savings Bank, a thrift with assets of $724 million. Mr.
Osborne, known as a predator among local thrift investors, previously made three unsuccessful attempts to gain control of Beachwood-based Horizon Financial Services Inc., parent of Horizon Savings and Loan. He also sold two other local thrifts, at a substantial profit, to Chase Bank of Ohio and First Bancorporation of Ohio. He now owns 9.1% of First American's stock, having previously purchased nearly 180,000 shares of the company stock, an investment costing $1.2 million....
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