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BUSINESS
October 17, 2000
Craig Corp., Reading Entertainment Inc. and Citadel Holding Corp. announced that Scott A. Braly has been appointed chief executive of each of the three Los Angeles-based companies. James J. Cotter will continue as the chairman of the boards of directors of Craig, Reading and Citadel. Braly has been a director of Reading since 1999, and previously was chief executive of Hawthorne Savings.
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BUSINESS
January 11, 1995 | From Times Staff and Wire Reports
Dillon Makes Bid for Citadel: The Columbus, Ohio-based private investment partnership said it wants to acquire the approximately 90% of Citadel Holding Corp. it does not already own for about $24 million, or $4 per share, in cash. The stock of Glendale-based Citadel, a thrift holding company, rose 62.5 cents to $3 on the American Stock Exchange. In a letter to Citadel's board dated Tuesday, Dillon said the price represents a 68% premium to the current market price.
BUSINESS
August 3, 1999 | A Times Staff Writer
Citadel Holding Corp., a Los Angeles-based real estate firm, on Monday said President Steve Wesson had left the firm. Investor and company Chairman James A. Cotter will succeed Wesson as president, according to a statement from the firm. Citadel said Wesson will continue to serve as a real estate consultant to the firm. No reason was given for Wesson's departure. Citadel was the former holding company for Fidelity Federal Bank, which was spun off in 1994.
BUSINESS
September 22, 1992
Citadel Holding Corp., the Glendale-based parent of Fidelity Federal Bank, said it will post a loss for the first nine months of this year because it is adding $39 million to its loan-loss reserves to reflect the "continuing deterioration in the Southern California real estate market." The addition to Citadel's "general valuation allowance" for loan and real estate losses will lower the thrift's third-quarter results by $22.
BUSINESS
January 14, 1992 | PHILIPP GOLLNER, TIMES STAFF WRITER
In less than three months, Citadel Holding Corp., the Glendale parent of Fidelity Federal Bank, has seen its stock plunge by about 60%, from a 52-week high of $37.125 a share to $14.75 as of Monday's close. The problem isn't so much that Citadel lost $33 million in the third quarter after taking big loan-loss provisions--the thrift's percentage of problem loans is still only about half that of most other Southern California savings and loans, according to analysts.
BUSINESS
May 22, 1990
Citadel Holding Corp. said it issued $60 million in notes that enabled it to comply with federal thrift capital requirements nearly three years ahead of schedule. Citadel, the Glendale parent of Fidelity Federal Bank, said it issued the subordinated notes on May 15. They are payable in five equal installments beginning in 1996 and bear an interest rate of 11.68%. Because the notes are unsecured, regulators count the $60 million as capital, which is generally an S&L's assets minus its debts.
BUSINESS
February 4, 1987
Citadel Holding Corp., Glendale, named Edward L. Kane president and vice chairman of the company and of its wholly owned subsidiary, Fidelity Federal Savings & Loan Assn. Kane has been a director of Citadel and Fidelity since 1985 and is a partner in the San Diego law firm of Haskins, Nugent, Newnham, Kane & Zvetina. Citadel Chairman James A. Taylor said that Citadel and Fidelity will continue to be administered by their respective executive management committees, with Kane presiding over both.
BUSINESS
October 17, 2000
Craig Corp., Reading Entertainment Inc. and Citadel Holding Corp. announced that Scott A. Braly has been appointed chief executive of each of the three Los Angeles-based companies. James J. Cotter will continue as the chairman of the boards of directors of Craig, Reading and Citadel. Braly has been a director of Reading since 1999, and previously was chief executive of Hawthorne Savings.
BUSINESS
January 19, 1995 | Times Staff and Wire Reports
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.
BUSINESS
May 2, 1995
Citadel Holding Corp., formerly the holding corporation for Fidelity Federal Bank, said it has agreed to sell 2.9 million shares of Class B common stock in Fidelity Federal to various purchasers at $3.50 per share. The sales, together with Citadel's previously announced sales, will reduce the company's ownership in Fidelity to less than 1% of the Glendale-based savings and loan's outstanding common stock.
BUSINESS
April 5, 1995 | Times Staff and Wire Reports
Citadel, Dillon to Settle: Citadel Holding Corp. and shareholder Craig Corp. entered into agreements that would end litigation between the companies and Roderick Dillon and Dillon Investors. Columbus, Ohio-based Dillon, which offered to buy Citadel for $4 a share in January, sued Los Angeles-based Citadel over its issuance of stock to Craig. Citadel then sued Dillon, challenging the accuracy of disclosures it made in filings with the Securities and Exchange Commission.
BUSINESS
January 19, 1995 | Times Staff and Wire Reports
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.
BUSINESS
January 11, 1995 | From Times Staff and Wire Reports
Dillon Makes Bid for Citadel: The Columbus, Ohio-based private investment partnership said it wants to acquire the approximately 90% of Citadel Holding Corp. it does not already own for about $24 million, or $4 per share, in cash. The stock of Glendale-based Citadel, a thrift holding company, rose 62.5 cents to $3 on the American Stock Exchange. In a letter to Citadel's board dated Tuesday, Dillon said the price represents a 68% premium to the current market price.
BUSINESS
November 29, 1994
Citadel Holding Corp., the former parent of Fidelity Federal Bank, reported a net loss of $59.2 million for the third quarter that ended Sept. 30, compared with a net loss of $14.7 million a year earlier. For its nine-month period, Glendale-based Citadel reported a net loss of $165.9 million, compared with a year-earlier loss of $29.8 million. The nine-month figures reflect a $52.
BUSINESS
November 9, 1994 | TOM PETRUNO
James Cotter has a history of making waves in other peoples' pools. Now he's getting a taste of his own medicine. Cotter, 58, heads Craig Corp., a Los Angeles firm that is basically a shell through which Cotter has invested in numerous other businesses over the years. He also manages the Forman family fortune, a $300-million-plus portfolio (as estimated by Forbes magazine) built from profits of the family's giant Pacific Theatres movie theater chain.
BUSINESS
November 9, 1993
Citadel Holding Corp. in Glendale, citing lingering problems with foreclosed properties, reported a loss of $14.7 million for the third quarter, compared to a loss of $14.9 million in the same period a year earlier. For the nine months ended Sept. 30, the holding company of Fidelity Federal Bank said its losses widened to $29.8 million, from a loss of $4.3 million in the nine-month period a year earlier. Citadel said its total assets were $4.5 billion as of Sept. 30, down from $4.
BUSINESS
July 24, 1990
Citadel Holding Corp. reported that its net income for the second quarter that ended June 30 jumped 79% to $6.8 million from $3.8 million a year ago. Citadel's earnings in the first half of the year more than doubled from $6.8 million in 1989 to $14.1 million in 1990. The thrift reported assets of $5.1 billion on June 30, a 5% increase from $4.9 billion a year earlier.
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