BANKING & FINANCE - Jan. 19, 1995

Citadel Holding Skeptical of Dillon’s Offer: Citadel Holding Corp., the Glendale-based thrift holding company, told Dillon Investors that Citadel is not for sale and that it is has doubts about the $4-per-share bid that Dillon made for the company last week. Columbus, Ohio-based Dillon, an investment partnership that already owns 10% of Citadel’s stock, is suing Citadel over its issuance of preferred stock to Craig Corp. Citadel, in a letter to Dillon, noted that its stock closed as high as $5 a share as recently as November and that it has no assurance that Dillon would be able to secure financing for the deal.