Advertisement
YOU ARE HERE: LAT HomeCollectionsPacific First Financial Corp
IN THE NEWS

Pacific First Financial Corp

FEATURED ARTICLES
BUSINESS
October 28, 1992 | From Times Staff and Wire Reports
Pacific First Bank to Be Acquired: Washington Mutual Savings Bank said it signed a definitive agreement to acquire Pacific First Bank for $663 million in cash. Under the agreement, Seattle-based Washington Mutual will purchase all stock outstanding of Pacific First's parent, Pacific First Financial Corp., from RT Holdings Inc., a unit of Toronto-based Royal Trustco Ltd.
ARTICLES BY DATE
BUSINESS
October 28, 1992 | From Times Staff and Wire Reports
Pacific First Bank to Be Acquired: Washington Mutual Savings Bank said it signed a definitive agreement to acquire Pacific First Bank for $663 million in cash. Under the agreement, Seattle-based Washington Mutual will purchase all stock outstanding of Pacific First's parent, Pacific First Financial Corp., from RT Holdings Inc., a unit of Toronto-based Royal Trustco Ltd.
Advertisement
BUSINESS
October 28, 1989 | JAMES S. GRANELLI, TIMES STAFF WRITER
Pacific First Financial Corp., the Seattle holding company managing Pacific First Bank in Costa Mesa, has tentatively agreed to acquire the California residential real estate construction lending unit of Old Stone Corp. Under the letter of intent, the Seattle firm would pick up five Old Stone construction lending offices, including one in Irvine, and 30 employees. The offices' portfolio consists of $250 million in loans and $290 million in loan commitments.
BUSINESS
October 28, 1989 | JAMES S. GRANELLI, TIMES STAFF WRITER
Pacific First Financial Corp., the Seattle holding company managing Pacific First Bank in Costa Mesa, has tentatively agreed to acquire the California residential real estate construction lending unit of Old Stone Corp. Under the letter of intent, the Seattle firm would pick up five Old Stone construction lending offices, including one in Irvine, and 30 employees. The offices' portfolio consists of $250 million in loans and $290 million in loan commitments.
BUSINESS
January 9, 1990 | States News Service
Pacific First Financial Corp. said it purchased Providence, R.I.-based Old Stone Bank's California real estate portfolio, which is made up of $345 million in real estate loan commitments. When the deal was closed Dec. 20, Old Stone had California real estate loans of about $185 million outstanding, according to a Securities and Exchange Commission filing.
BUSINESS
January 31, 1990
Royal Trustco Ltd., the Toronto financial services firm that bought the failed Pacific Savings Bank in Costa Mesa, has cut its stake in Glenfed Inc. from 9.44% to 6.7%, or 2.04 million common shares. Royal Trustco must cut its stake in Glenfed, a savings and loan holding company, because federal regulation prohibits the owner of one federally insured S&L from holding more than 5% of an S&L that it does not control, according to a filing with the Securities and Exchange Commission.
BUSINESS
October 14, 1989 | JAMES S. GRANELLI, JAMES S. GRANELLI, TIMES STAFF WRITER
In one of the first major deals since Congress approved the thrift bailout plan, Royal Trustco Ltd. of Toronto on Friday acquired insolvent Pacific Savings Bank in Costa Mesa with the help of $550 million from the federal government. Pacific Savings and three other large S&Ls were sold Friday as part of the federal government's effort to clean up the ravaged industry. The Resolution Trust Corp., the federal agency charged with disposing of failed institutions, provided a total of $7.
BUSINESS
November 11, 1989 | Jonathan Weber, Times staff writer
Jerry E. Pohlman has big plans for the 11-branch Pacific First Savings in Costa Mesa, and with several hundred million dollars from Canada, he just may be able to carry them out. Pohlman is the chairman of Seattle-based Pacific First Financial Corp., a large and solvent thrift that has been purchased by Royal Trustco Ltd. of Canada in a deal expected to close by the end of this month. Royal Trustco, one of Canada's largest trust companies (which are similar to U.S.
BUSINESS
October 17, 1989 | JONATHAN WEBER, TIMES STAFF WRITER
The recent acquisition of insolvent Pacific Savings Bank of Costa Mesa by the Canadian financial services conglomerate Royal Trustco Ltd. could represent the beginning of a series of U.S. banking investments by "snowbirds" from north of the border, Canadian financial analysts said Monday. And it comes as no surprise that Royal Trust--with a strong balance sheet, a highly regarded management team and the backing of one of Canada's most powerful families--would be at the forefront of the trend.
BUSINESS
November 2, 1989 | James S. Granelli, Times staff writer
Anaheim banker L. Don Sargent joined other bankers at a U.S. Senate hearing Wednesday in denouncing pending legislation that would force bankers in certain areas, including Southern California, to adhere to stricter guidelines for reporting suspected money laundering.
BUSINESS
January 3, 1990 | ROBERT W. STEWART and JOHN O'DELL, TIMES STAFF WRITERS
A small office building in Orange built by a defunct thrift whose former owners now are convicted swindlers. A $4-million "windmill" nestled in Malibu's verdant Ramirez Canyon owned by a troubled Costa Mesa thrift. A $75-million hotel near Palm Springs that hosts world champion tennis. A sprawling equestrian center in Griffith Park. These properties are among scores in California that were built, acquired or repossessed by savings and loan associations that went under.
Los Angeles Times Articles
|