H F Ahmanson Co

H. F. Ahmanson & Co., parent of Home Savings of America, on Wednesday reported a 66% drop in first-quarter earnings largely because of sharply lower gains on the sale of loans and mortgage-backed securities. Earnings for the three months that ended March 31 at the nation's largest thrift company fell to $30.1 million from $89.3 million in the same period last year.

H. F. Ahmanson & Co., the nation's second-largest thrift concern, said Tuesday that earnings fell 49% for the third quarter and 30% for the nine months, primarily because of a steep decline in profit from the sale of mortgage-backed securities. Meantime, Great Western Financial Corp., the nation's third-largest thrift holding company, said its net was off by 28% for the third period and 14.5% for the nine months.

The parent of Home Savings of America said Monday that it moved to expand its thrift network in the Northeast by agreeing to buy a New York savings and loan in a deal valued at $300 million. Los Angeles-based H. F. Ahmanson & Co. said it plans to merge the 13-branch Home Savings Bank of New York into Bowery Savings Bank, one of New York's oldest and best-known financial institutions that Ahmanson acquired in 1987.

H.F. Ahmanson & Co., parent of Home Savings of America, the nation's largest savings and loan, Friday joined a rebellion of huge California thrift institutions against what they regard as an unfair competitive advantage being handed to their banking industry rivals. Irwindale-based Ahmanson announced that it would seek regulatory permission to establish one or more state-chartered savings banks whose deposits would be insured by the same federal fund that covers commercial banks.

H. F. Ahmanson & Co. and Great Western Financial Corp., two of the nation's largest savings and loan holding companies, Wednesday reported higher net earnings for the third quarter but lower income for the first nine months of the year. Despite the downturn for the nine-month period, both companies predicted that results for the entire year will show improvement over 1987. Los Angeles-based H. F.

A day after taking its case to Wall Street, H.F. Ahmanson & Co. on Tuesday garnered support from a number of analysts for its unsolicited proposal to take over Great Western Financial Corp. But investors yawned at the analysts' opinions, adding pressure on Ahmanson to raise its offer to counter a higher, rival bid by Washington Mutual Inc. "In our view, H.F. Ahmanson made a strong case," said Furman Selz analyst Leslie Nelkin in his report Tuesday.

When Kerry Killinger took over as chief executive of Washington Mutual Inc. in 1990, his background as a securities analyst seemed to make him uniquely suited for the job of dressing up the century-old Seattle-based thrift for a quick sale. Instead, Killinger, now 47, has turned Washington Mutual from prey to predator. Thursday's offer to acquire Great Western Financial in a friendly $6.

In its escalating bid for control of Great Western Financial Corp., H.F. Ahmanson & Co. on Tuesday sued the Chatsworth-based company, demanding a list of its shareholders. Great Western spokesman Charles Coleman said the suit is unnecessary. Great Western expects to deliver by Thursday whatever books and records it is required by law to hand over, he said. The full text of the lawsuit, filed Tuesday in Delaware Chancery Court, wasn't immediately available.

The Home Savings of America tower in downtown Los Angeles has been sold to a partnership of U.S. investment banker Yukuo Takenaka and Japan's Kawasaki Enterprises, it was announced Thursday. Although the purchase price was not disclosed, sources close to the deal said the amount was $80 million to $100 million for the 24-story, 260,000-square-foot building, at 7th and Figueroa streets. H. F. Ahmanson & Co.

Amid increasing signs that a bidding war will erupt for Great Western, the savings and loan's chief executive on Wednesday lashed out at statements made by the management of its hostile suitor, H.F. Ahmanson & Co. In an e-mail bulletin to employees Wednesday afternoon, Great Western Chief Executive John F.