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Imperial Savings Loan Association

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BUSINESS
April 8, 1990 | PAUL RICHTER, TIMES STAFF WRITER
Columbia Savings said it was insolvent. Southland Corp., owner of 7-Eleven stores, said bankruptcy may lie ahead. First Executive took a bruising $836-million loss. The news was heavy from the world of high-yield junk bonds last week, and most of it was bad. Companies with junk in their investment portfolios revealed that new and gaping wounds had been inflicted by the junk market's 9-month-old collapse.
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BUSINESS
July 24, 1991 | James S. Granelli /Times staff writer
Household Bank in Newport Beach doesn't want to alarm some new customers it picked up with its acquisition of 48 branches of failed Imperial Savings & Loan, but it does want them to acknowledge what seems obvious: Their accounts can remain at Household. In recent letters to the 40,000 former Imperial depositors who have $1.4 billion in Household accounts, Household has asked them to sign a form that states, essentially, that they know where their money is and that they want to keep it there.
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NEWS
February 24, 1990 | JAMES BATES and JAMES S. GRANELLI, TIMES STAFF WRITERS
Two of Southern California's best-known thrifts--Imperial Savings in San Diego and Mercury Savings in Huntington Beach--were seized Friday by government regulators in a further crackdown on the nation's largest troubled savings and loans. Imperial, the 15th-largest thrift in the nation and 12th-largest in California as of Sept.
BUSINESS
April 19, 1991
The members of the Conejo Valley Garden Club have urged the Thousand Oaks City Council to stop new water hookups until the drought ends. It doesn't make sense to have the present population on water-use restrictions and yet continue to allow more commercial and residential buildings to be constructed. We urge a moratorium on all future development until the water shortage has ended. MARIAN KURASH, President Conejo Valley Garden Club Thousand Oaks
BUSINESS
August 4, 1989 | Michael Flagg, Times staff writer
Imperial Savings joined the Computerized Loan Origination System mortgage-selling service of Prudential Real Estate Affiliates Inc. that is based in Costa Mesa. Through the system, Imperial will offer loans in 350 Prudential Real Estate offices in the Southwest, Northwest, Texas and Hawaii on a regional basis. Imperial is the second regional lender to join the computer service; the first was the Bank of New York. Three bigger lenders already sell mortgages on a national basis through the
BUSINESS
April 24, 1991 | James S. Granelli / Times staff writer
Running the Resolution Trust Corp. is a no-win situation, says a consultant who helped arrange Friday's purchase of failed Imperial Savings & Loan's 78 branches statewide. The RTC, the federal agency that manages and liquidates failed thrifts, has $167 billion worth of assets from collapsed U.S. S&Ls to get rid of. Imperial, which was based in San Diego and had $7 billion in assets, was one of the bigger thrifts that the agency had been operating.
BUSINESS
April 23, 1991 | JAMES S. GRANELLI, TIMES STAFF WRITER
Household Bank has been on a shopping spree for several years, and the savings and loan has found that the Resolution Trust Corp. offers the best deals around. The federal agency, which manages and liquidates failed thrifts, has been under intense pressure by Congress and others to sell its vast holdings of failed thrift properties. Locally based Household was only too happy to pay $14 million Friday for 48 branches of failed Imperial Savings & Loan's statewide network.
BUSINESS
April 19, 1991
The members of the Conejo Valley Garden Club have urged the Thousand Oaks City Council to stop new water hookups until the drought ends. It doesn't make sense to have the present population on water-use restrictions and yet continue to allow more commercial and residential buildings to be constructed. We urge a moratorium on all future development until the water shortage has ended. MARIAN KURASH, President Conejo Valley Garden Club Thousand Oaks
BUSINESS
April 19, 1991 | GREG JOHNSON, TIMES STAFF WRITER
U.S. banking regulators hope to complete the sale of Imperial Savings & Loan's 78 branch offices in California today to a pair of out-of-town financial institutions, according to sources familiar with the planned sale. If completed, the sale would split San Diego-based Imperial's 78 branches between San Francisco-based Bank of the West and Household Bank, a subsidiary of Prospect Heights, Ill.-based Household International, according to the sources, who asked not to be identified.
BUSINESS
November 3, 1990 | JAMES BATES and GREG JOHNSON, TIMES STAFF WRITERS
Lincoln Savings & Loan, the Irvine-based thrift that has become a symbol of the nation's savings and loan debacle, was put up for sale Friday by federal authorities. Once owned by Charles H. Keating Jr., Lincoln was one of 18 failed savings and loans put on the block by the federal Resolution Trust Corp., the agency formed last year to clean up the S&L mess. Also put up for sale was Imperial Federal Savings Assn. in San Diego, the largest failed thrift in the state.
NEWS
January 6, 1990 | JAMES BATES and CHRIS KRAUL, TIMES STAFF WRITERS
The parent of Imperial Savings, one of California's largest and best-known thrifts, was ordered Friday to stop making new loans and investments while federal regulators decide if the ailing institution can ever meet tough new rules for savings and loans. The limits are so strict that Imperial cannot even make a new home loan. The restrictions on San Diego-based Imperial Corp. of America are among the most severe taken against a major thrift since the new rules went into effect last month.
SPORTS
August 7, 1990 | CATHERINE GEWERTZ, TIMES STAFF WRITER
Cornerback Ron Brown of the Raiders has been accused of using his Anaheim used-car business to defraud a troubled savings and loan out of nearly $283,000. Legal documents filed in Orange County Superior Court show that San Diego-based Imperial Savings Assn., for whom Brown sells used cars on consignment, claimed that Brown refused to surrender or pay for 29 cars given on consignment by the institution.
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