February 6, 1998 |
Glendale Federal Bank and California Federal Bank, two of the best-known names in the California banking business, announced Thursday that they plan to merge as part of a $2.5-billion deal that would create the nation's third-largest savings and loan. The proposed deal reflects another in a wave of consolidations that is sweeping though the nation's banking industry.
October 21, 1997 |
Golden State Bancorp September-quarter earnings will beat Wall Street forecasts because of a wider spread between interest income and interest expenses, the thrift's chief executive said Monday. "You will see further gradual improvement in earnings and earnings better than the Street expects--not wildly better, but better," said Chairman and Chief Executive Stephen Trafton in an interview. Trafton would not specify how much the thrift earned in the quarter.
August 19, 1997 |
Marking the latest acquisition in California's fast-consolidating thrift industry, the parent of Glendale Federal Bank said Monday that it has agreed to buy Pasadena-based CenFed Bank in a stock swap valued at $210 million. For Glendale-based Golden State Bancorp Inc., whose Glendale Federal is the state's sixth-largest savings and loan, with assets of $16.
May 31, 1997 |
Glendale Federal Bank said it plans to form a thrift holding company to give it more flexibility in buying back stock and making acquisitions. Shareholders of the thrift would swap one share for each share of the holding company, to be called Golden State Bancorp Inc. Glendale expects the Office of Thrift Supervision and the Securities and Exchange Commission to approve the plan next month.