Loooking at Orange County's Past Year Sheds Light on '86 : Health Care ROBERT HANLEY and Valencia Bank in Santa Ana and Financial Corp. of America's American Savings & Loan Assn. unit. and Valencia is operating under Federal Deposit Insurance Corp. orders
that require it to meet certain financial standards or face a loss of insurance coverage, which would essentially force the bank to close its doors. The bank has been negotiating with a group of six investors to pump $7.5 million into the bank's capital account, but the talks have stalled and the bank has turned to other potential saviors. For the first nine months of 1985, Valencia lost $2.05 million, compared with a loss of $1,000 a year earlier. and American, the nation's largest S&L with $27.6 billion in assets, lost
$590.5 million in 1984 and its losses continued in 1985. American posted a loss of $43.7 million for the nine months ended Sept. 30, compared with a loss of $78.4 million a year earlier.
Water in the West : Growing Beyond Nature's Limits Wallace Stegner, Among many works, Wallace Stegner is the author of "The Sound of Mountain Water: The Changing American West" (1969); "Angle of Repose," which won a Pulitzer Prize in 1972, and "The Spectator Bird," winner of the 1977 National Book Award.