September 4, 1991 |
Many of the banks created in California during the first half of the 1980s should never have opened, according to banking consultant Gerry Findley of Brea. He may have a point: Twenty-four percent have failed or merged into other banks, and most of those mergers involved troubled banks forced to sell out. In addition, financial records of banks in the state indicate that 32% more face "serious survival challenges," Findley said.
September 13, 1989 |
Bankers often talk about bargains to be had by picking up sick or even healthy savings and loans, something they are allowed to do under the month-old federal law that rescued the S&L deposit insurance system. But Gerry Findley, a Brea industry consultant, argues that banks would gain little profit by buying either healthy or sick S&Ls. "About the only positive feature I can see is possible market entry into a few desirable areas," Findley said in his latest California Banking Newsletter.
July 18, 1989 |
The proposed sale of Pioneer Savings & Loan in Newport Beach to Irvine developer John E. Wertin has died. Wertin, who bought a recovering Bank of San Clemente in late 1987, had been negotiating for the purchase of Pioneer since September. He gave up on July 3, according to a recent notice from the state Department of Savings and Loan. Neither Wertin nor James F. Deane, Pioneer's chairman, could be reached to explain why the deal fell through.
June 12, 1989 |
Wally Bragdon, whose 2-year-old bank in Petaluma is sporting a life-size cow and calf in its lobby for National Dairy Month, is capitalizing on a budding trend in California banking. After some lean years, interest seems to be picking up in opening new banks in the state. Banks are being created in small communities such as Petaluma and Redlands, where bank mergers are leaving gaps, and in urban neighborhoods where a special need exists, as in East Los Angeles, where a new bank is planned by a group of Latinos.
May 8, 1989 |
With 32 years of experience, the fiercely independent and outspoken Gerry Findley has become the dean of California banking consultants. Through his Brea-based company, Findley, 68, has helped to start more than 200 banks and savings and loans. He regularly advises bankers on such things as their dealings with regulators, their executive compensation programs, their policy manuals and their merger and acquisition negotiations. The Findley Reports, a family owned business, has grown into multifaceted operation that also includes the publication of books, manuals and annual reports on the financial results of California's banks and its savings and loans.
October 26, 1988 |
Bank of California signs will replace the familiar red diamond logo of Mitsubishi Bank next month when the two Japanese-owned financial institutions complete a merger that will create the sixth-largest bank in California. Although state-chartered Mitsubishi bank of Los Angeles and San Francisco-based Bank of California were owned and operated by the same parent company--Mitsubishi Bank Ltd.