Citicorp Savings completed a major acquisition.

With the purchase of 50 Sears Savings branches--all but 16 in Southern California--Citicorp added $2 billion in deposits and moved into ninth position among California S&Ls.; Citicorp completed the deal with a unit of Sears, Roebuck & Co. after gaining Federal Reserve approval. The acquisition gives Oakland-based Citicorp Savings 136 branches in California and about $6.8 billion in total assets. Sears Savings is left with 41 branches, all in Sears retail stores, except for the unit’s head office in Glendale. Citicorp entered the California consumer banking market in 1982 when it bought Fidelity Savings.