The Bank of Baltimore has won the bid for the $24 million home equity portfolio of Yorkridge-Calvert Savings and Loan Association. The purchase price was not disclosed.
Yorkridge was taken over by federal regulators in December 1989 because of financial problems. At the time it was the 10th largest savings and loan in Maryland.
The purchase will be made through the Resolution Trust Corp., a federal agency that is handling insolvent thrifts.
Home-equity loans are secured by the borrowers' homes. Most of the home-equity loans made by Yorkridge were local, according to Jerome P. Baroch, senior executive vice president for the Bank of Baltimore.