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BUSINESS
February 20, 2010 | By E. Scott Reckard
Regulators shut down La Jolla Bank in San Diego County on Friday night and sold its remains to OneWest Bank, the Pasadena thrift that emerged from the ruins of failed mortgage giant IndyMac. The 10 branches of Rancho Santa Fe-based La Jolla were to open as scheduled on Monday as offices of OneWest, the company and regulators said. OneWest agreed to assume all $2.8 billion in deposits at La Jolla and to acquire nearly all of its $3.6 billion in loans and other assets. The Federal Deposit Insurance Corp.
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BUSINESS
February 20, 2010 | By E. Scott Reckard
Regulators shut down La Jolla Bank in San Diego County on Friday night and sold its remains to OneWest Bank, the Pasadena thrift that emerged from the ruins of failed mortgage giant IndyMac. The 10 branches of Rancho Santa Fe-based La Jolla were to open as scheduled on Monday as offices of OneWest, the company and regulators said. OneWest agreed to assume all $2.8 billion in deposits at La Jolla and to acquire nearly all of its $3.6 billion in loans and other assets. The Federal Deposit Insurance Corp.
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BUSINESS
August 19, 2009 | E. Scott Reckard
OneWest Bank of Pasadena, the savings bank that arose from the ashes of failed mortgage giant IndyMac Bancorp, reported a solid profit of $182 million for the second quarter, its first full quarter under ownership by private investors. The company's report to regulators, posted on a government website Tuesday, suggested that a loss-sharing arrangement with the Federal Deposit Insurance Corp. was helping the thrift work through its giant collection of soured loans and move toward its goal of reshaping itself as a traditional full-service bank.
BUSINESS
August 19, 2009 | E. Scott Reckard
OneWest Bank of Pasadena, the savings bank that arose from the ashes of failed mortgage giant IndyMac Bancorp, reported a solid profit of $182 million for the second quarter, its first full quarter under ownership by private investors. The company's report to regulators, posted on a government website Tuesday, suggested that a loss-sharing arrangement with the Federal Deposit Insurance Corp. was helping the thrift work through its giant collection of soured loans and move toward its goal of reshaping itself as a traditional full-service bank.
BUSINESS
March 20, 2009 | William Heisel
The sale of IndyMac Federal Bank was concluded Thursday, and the new owners wasted no time in ditching its tainted name. Starting today, IndyMac is OneWest Bank. The Pasadena bank's new owners, organized under OneWest Bank Group, bought the bank's $20.7 billion in loans and other assets for $16 billion. That includes $9 billion in financing from the Federal Deposit Insurance Corp. and the Federal Home Loan Bank. For IndyMac customers it will be business as usual.
BUSINESS
August 20, 2009 | Nathan Olivarez-Giles
More than two dozen members of the Assn. of Community Organizations for Reform Now, better known as ACORN, gathered outside the home of a Los Angeles truck driver and his family Wednesday afternoon in an effort to keep the home from being sold. The small rally was a part of the activist group's "Home Wreckers" campaign targeting mortgage lenders that aren't adjusting loans under the Obama administration's $75-billion Making Home Affordable program and other home-saving efforts from the federal government, said Anthony Panarese, an ACORN organizer.
ENTERTAINMENT
September 30, 2013 | By Daniel Miller
Warner Bros. Pictures has struck a film financing deal with RatPac-Dune Entertainment LLC, a new entity formed by Dune Entertainnment's Steven Mnuchin and RatPac Entertainment, the film finance vehicle of filmmaker Brett Ratner and Australian businessman James Packer. The four-year co-financing deal is valued at about $450 million, according to a source with direct knowledge of the matter who was not authorized to comment publicly on the matter. It will cover as many as 75 titles from Burbank-based Warner Bros.
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