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Citizens Thrift Loan

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BUSINESS
August 29, 1997 | James S. Granelli
A fast-growing Dallas finance company said Thursday that it has completed its acquisition of Citizens Thrift & Loan and Citizens' parent company in a stock swap valued at $29.6 million. FirstPlus Financial Group Inc. said it expects the loans and other assets of the Tustin thrift and loan to grow from $125 million to $300 million during the next 12 months. FirstPlus is retaining all employees and adding more, said Eric C. Green, the company's chief financial officer.
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BUSINESS
February 20, 1997
The fast-growing Dallas firm that operates FirstPlus finance company jumped into the California market by agreeing to acquire Citizens Thrift & Loan in a stock swap valued at $25 million to $30 million. RAC Financial Group Inc., which uses quarterback Dan Marino as its spokesman, said it plans to expand throughout California. The deal must be approved by regulators and by shareholders of Citizens' parent company, Western International Bancorp of Newport Beach.
BUSINESS
February 20, 1997 | JAMES S. GRANELLI, TIMES STAFF WRITER
The fast-growing Dallas company that operates FirstPlus finance company jumped into the California market Wednesday by agreeing to acquire Citizens Thrift & Loan in a stock swap valued at $25 million to $30 million. RAC Financial Group Inc., which uses professional football star Dan Marino as its national spokesman, said it plans to expand the Citizens operation throughout California and in nearby states.
BUSINESS
February 20, 1997 | JAMES S. GRANELLI, TIMES STAFF WRITER
The fast-growing Dallas company that operates FirstPlus finance company jumped into the California market Wednesday by agreeing to acquire Citizens Thrift & Loan in a stock swap valued at $25 million to $30 million. RAC Financial Group Inc., which uses professional football star Dan Marino as its national spokesman, said it plans to expand the Citizens operation throughout California and in nearby states.
BUSINESS
August 21, 1986
Crediting sales of some of its portfolio of FHA home-improvement loans, Citizens Thrift & Loan Assn. in Irvine said Wednesday that its net income more than doubled in the second quarter and jumped 84% for the first six months. The thrift posted a quarterly net income of $179,526, contrasted with $71,978 in last year's second quarter. Its six-month net earnings rose to $335,238 from $181,986 in the same period last year.
BUSINESS
December 12, 1996
Western Interstate Bancorp, whose principal subsidiary is Citizens Thrift & Loan, reported net income of $666,623, or 52 cents a share, for the third quarter. That was up from $155,863, or 13 cents a share, a year ago. For the nine-month period, net income grew to $1.3 million, or 99 cents a share, from $620,315, or 54 cents a share. Total assets as of Sept. 30 were $121 million.
CALIFORNIA | LOCAL
June 6, 1987
Robber Takes $1,700: A man fled with $1,700 Friday from Citizens Thrift & Loan, 14252 Culver Drive. Police said he handed a teller a note at 3:23 p.m. stating that he was armed and demanding money. He was described as being 38 to 40 years old; 6 feet, 1 inch tall; 220 pounds; with short brown hair and a full brown beard. He was wearing an orange baseball cap.
BUSINESS
September 10, 1987
Western Interstate Bancorp, a holding company for Citizens Thrift & Loan Assn. in Irvine, posted net income of $141,324 in the second quarter, a 57.3% increase over the $89,843 earned in the second quarter of 1986. Net income in the first six months rose 25.3% to $199,802 from $159,418 a year earlier. The company's total assets at the end of June were $36.4 million, a 32.8% increase over the $27.4 million in assets a year earlier. The T&L's loan portfolio rose 56.9% to $31.
BUSINESS
August 21, 1986
Crediting sales of some of its portfolio of FHA home-improvement loans, Citizens Thrift & Loan Assn. in Irvine said Wednesday that its net income more than doubled in the second quarter and jumped 84% for the first six months. The thrift posted a quarterly net income of $179,526, contrasted with $71,978 in last year's second quarter. Its six-month net earnings rose to $335,238 from $181,986 in the same period last year.
BUSINESS
August 5, 1986
Citizens Thrift & Loan Assn., an Irvine institution with $28.2 million in assets, said it is awaiting federal approval of its plans to buy the California thrift operations of U.S. Bancorp for more than $6 million. The four Northern California branches of U.S. Thrift & Loan Assn. would add $6.2 million in assets to Citizens, according to Michael W. McGuire, Citizens' president and chief executive. The purchase price will amount to the total assets of U.S.
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