Bank Plus Corporation Reports Completion 1
Bank Plus Corporation (Nasdaq: BPLS) ( “Bank Plus” or the “Corporation”) today reported that in June 2000 its wholly-owned subsidiary Fidelity Federal Bank, FSB ( “Fidelity” or the “Bank”) completed the previously announced sales of the MMG Direct, Inc.. ( “MMG”) credit card portfolio and the Bank’s credit card servicing center located in Beaverton, Oregon. In conjunction with this sale, the buyer of the credit card servicing center is now servicing the Bank’s American Direct Credit, Inc. ( “CDA”) credit card portfolio and has an option to purchase the ADC portfolio.
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