FIRST NATIONWIDE BANK of San Francisco was the 8th largest U.S. savings and loan, with $11.9 billion in assets, when it took over Cleveland's STATE SAVINGS AND LOAN CO. in June 1986. The acquisition gave the San Francisco bank representation in Ohio for the first time and State Savings offices immediately assumed the name of their new owner. On 30 Dec. 1988, First Nationwide purchased CARDINAL FEDERAL SAVINGS BANK and 3 other insolvent thrift institutions from the Federal Savings and Loan Insurance Corp. At that time, Cardinal had $128 million more in liabilities than it had in assets. First Nationwide and its parent holding company, First National Financial Corp., were wholly owned subsidiaries of the Ford Motor Co. and this purchase enabled the automobile company to deduct the thrifts' past losses from its income taxes. In Jan. 1992 Cardinal's name changed to First Nationwide Bank. By 1995 Nationwide had 28 offices in the Cleveland area (up from 7 in 1992) and employed 325 people.