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Santa Barbara Savings Loan Association

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BUSINESS
April 28, 1990 | JAMES BATES, TIMES STAFF WRITER
Federal regulators on Friday seized the long-troubled Santa Barbara Savings, the state's 18th-largest thrift and the dominant savings and loan in the Santa Barbara, Ventura and San Luis Obispo region. The move had been expected for months. Over the past five months, Santa Barbara Savings had been placed under some of the most severe restrictions regulators have ever imposed on a thrift short of seizing it.
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BUSINESS
August 10, 1991 | From Times Staff and Wire Reports
BankAmerica Buys Santa Barbara S&L: San Francisco-based BankAmerica Corp. has bought the deposits and certain assets of failed Santa Barbara Federal Savings from the Resolution Trust Corp. Santa Barbara Federal has 44 branches, primarily in San Luis Obispo, Santa Barbara, Ventura and Kern counties. It also has branches in Beverly Hills, Palm Springs, Santa Ana, Upland and Vacaville. BankAmerica will pay a premium of $41 million for about $1.
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BUSINESS
November 16, 1990 | JAMES BATES, TIMES STAFF WRITER
Drexel Burnham Lambert's junk bond group manipulated some Southern California thrifts in marionette-like fashion, providing financial sweeteners to executives of local thrifts who bought its bonds while pressuring them if they balked at Drexel's wishes, documents filed this week by federal regulators show.
BUSINESS
August 10, 1991 | From Times Staff and Wire Reports
BankAmerica Buys Santa Barbara S&L: San Francisco-based BankAmerica Corp. has bought the deposits and certain assets of failed Santa Barbara Federal Savings from the Resolution Trust Corp. Santa Barbara Federal has 44 branches, primarily in San Luis Obispo, Santa Barbara, Ventura and Kern counties. It also has branches in Beverly Hills, Palm Springs, Santa Ana, Upland and Vacaville. BankAmerica will pay a premium of $41 million for about $1.
BUSINESS
January 20, 1990 | JAMES S. GRANELLI, TIMES STAFF WRITER
Mercury Savings & Loan, struggling for a year to curb losses, said it was ordered Friday by federal regulators in San Francisco to halt all lending and investment activities. The order does not affect the S&L's routine customer deposits nor its $3-billion loan-servicing portfolio. The S&L also can fill pending commitments for loans and investments, but no new loans or investments can be made.
BUSINESS
November 16, 1990 | JAMES BATES, TIMES STAFF WRITER
Drexel Burnham Lambert's junk bond group manipulated some Southern California thrifts in marionette-like fashion, providing financial sweeteners to executives of local thrifts who bought its bonds while pressuring them if they balked at Drexel's wishes, documents filed this week by federal regulators show.
BUSINESS
February 13, 1990 | JAMES BATES, TIMES STAFF WRITER
The parent company of Santa Barbara Savings disclosed Monday that federal regulators rejected its plan to restore its capital level, an action that puts the firm perilously close to being seized. The action also makes Financial Corp. of Santa Barbara, among the state's 20 largest thrifts, the first S&L in California to publicly disclose that its capital plan was rejected. Philip R. Brinkerhoff, chief executive of Financial Corp.
BUSINESS
January 4, 1990 | From Times Wire Services
A proposed merger of troubled CenTrust Bank with a bank owned by a billionaire cruise ship magnate was announced Wednesday as part of a plan to ward off regulators from the Miami savings and loan. The non-binding agreement calls for CenTrust and Ensign Bank to begin talks to reorganize under a new holding company. The merger would include a cash infusion from Ensign's parent, Hamilton Holding Co., which is controlled by Carnival Cruise Lines Inc. principal owner Ted Arison.
BUSINESS
April 28, 1990 | JAMES BATES, TIMES STAFF WRITER
Federal regulators on Friday seized the long-troubled Santa Barbara Savings, the state's 18th-largest thrift and the dominant savings and loan in the Santa Barbara, Ventura and San Luis Obispo region. The move had been expected for months. Over the past five months, Santa Barbara Savings had been placed under some of the most severe restrictions regulators have ever imposed on a thrift short of seizing it.
BUSINESS
February 13, 1990 | JAMES BATES, TIMES STAFF WRITER
The parent company of Santa Barbara Savings disclosed Monday that federal regulators rejected its plan to restore its capital level, an action that puts the firm perilously close to being seized. The action also makes Financial Corp. of Santa Barbara, among the state's 20 largest thrifts, the first S&L in California to publicly disclose that its capital plan was rejected. Philip R. Brinkerhoff, chief executive of Financial Corp.
BUSINESS
January 20, 1990 | JAMES S. GRANELLI, TIMES STAFF WRITER
Mercury Savings & Loan, struggling for a year to curb losses, said it was ordered Friday by federal regulators in San Francisco to halt all lending and investment activities. The order does not affect the S&L's routine customer deposits nor its $3-billion loan-servicing portfolio. The S&L also can fill pending commitments for loans and investments, but no new loans or investments can be made.
BUSINESS
January 4, 1990 | From Times Wire Services
A proposed merger of troubled CenTrust Bank with a bank owned by a billionaire cruise ship magnate was announced Wednesday as part of a plan to ward off regulators from the Miami savings and loan. The non-binding agreement calls for CenTrust and Ensign Bank to begin talks to reorganize under a new holding company. The merger would include a cash infusion from Ensign's parent, Hamilton Holding Co., which is controlled by Carnival Cruise Lines Inc. principal owner Ted Arison.
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