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BUSINESS
March 1, 1990 | JAMES BATES, TIMES STAFF WRITER
Savings and loans in California continued losing their share of the home lending market to banks and mortgage banking firms in 1989, a California Assn. of Realtors survey shows. The survey of about 1,000 association members released Wednesday showed that S&Ls funded 41% of first mortgages on homes and condominiums the realtors sold, down from 47% a year ago and 59% in 1987.
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BUSINESS
January 9, 1998 | Bloomberg News
H.F. Ahmanson & Co. Chairman and Chief Executive Charles Rinehart said investors are overestimating how much the thrift's earnings could fall if interest rates stay low. "The impact is probably not as great as people anticipate," said Rinehart, chief of the nation's second-largest savings and loan, in a telephone interview. Rinehart acknowledged that Ahmanson might have trouble originating adjustable-rate mortgages if interest rates remain low and borrowers favor fixed-rate loans.
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BUSINESS
April 27, 1993 | DAVID W. MYERS, TIMES STAFF WRITER
Profits at most California-based banks and thrifts improved last year, as the gap between what lenders charge for their loans and what they pay on customer deposits continued to widen. Seven of the largest 25 publicly traded banks and thrifts recorded a return on average assets of more than 1%, a figure that is considered a benchmark of excellence in the industry. A year earlier, only one lender was able to achieve that goal.
BUSINESS
July 23, 1996 | PATRICK LEE, TIMES STAFF WRITER
Monday's announcement by Washington Mutual Inc. that it will take over American Savings Bank of Irvine could be the start of a wave of mergers in the state's thrift industry, which analysts and investors have been waiting on for years.
BUSINESS
September 17, 1992 | From Times Staff and Wire Reports
Profits at the nation's savings and loans fell 17.5% to $1.27 billion in the second quarter despite huge gains from lower interest rates, the government said Wednesday. But the industry still earned a record $2.81 billion for the first half of this year, surpassing a previous high of $2.7 billion for the six months that ended March 30, 1986. California's 111 private sector thrifts enjoyed a big boost in earnings, with net income of $94.
BUSINESS
April 26, 1994 | CHRIS KRAUL, TIMES STAFF WRITER
Consolidation and failures during the past decade may have radically reduced the number of California's banks and savings and loans, but those that remain are generally healthy--and getting stronger. It's a measure of how deep a hole the state's financial services industry was in that only one California-based financial institution, CVB Financial of Ontario, appears on The Times 100 list of most profitable companies, a ranking that charts average two-year return on shareholder equity.
BUSINESS
October 7, 1993 | CHRIS KRAUL, TIMES STAFF WRITER
Like many other California savings and loans, Independence One pointedly began calling itself a "bank" a few years ago because it was embarrassed by the chaotic state of the thrift industry. Now Independence One Bank is proposing something far more radical: It wants to become a commercial bank because it is no longer able to compete in the home loan business.
BUSINESS
May 14, 1988 | BILL SING, Times Staff Writer
Thomas Spiegel, the maverick Columbia Savings chief executive whose $9-million pay package in 1985 was deemed excessive by federal regulators, received $5.46 million in compensation for last year, the company's latest proxy statement reveals. That compared to $4.38 million in 1986 and again made the 41-year-old Spiegel the highest-paid executive in the California savings and loan industry, and one of the highest paid executives nationwide.
BUSINESS
April 27, 1993
Publicly traded institutions ranked by assets. 1992 Assets % Change Rank Company ($ billions) From 1991 1 BankAmerica Corp. 138.617 36 2 Wells Fargo & Co. 53.046 -6 3 First Interstate Bancorp 49.042 0 4 H. F. Ahmanson & Co. 40.459 -0 5 Great Western Financial 35.902 -3 6 Golden West Financial Corp. 25.465 12 7 First Nationwide Financial 19.413 8 8 Union Bank 17.457 6 9 American Savings Bank 17.174 1 10 CalFed Inc. 16.966 -7 11 Glenfed Inc. 16.859 -17 12 Household Bank 8.
BUSINESS
April 26, 1994 | CHRIS KRAUL, TIMES STAFF WRITER
Consolidation and failures during the past decade may have radically reduced the number of California's banks and savings and loans, but those that remain are generally healthy--and getting stronger. It's a measure of how deep a hole the state's financial services industry was in that only one California-based financial institution, CVB Financial of Ontario, appears on The Times 100 list of most profitable companies, a ranking that charts average two-year return on shareholder equity.
BUSINESS
October 7, 1993 | CHRIS KRAUL, TIMES STAFF WRITER
Like many other California savings and loans, Independence One pointedly began calling itself a "bank" a few years ago because it was embarrassed by the chaotic state of the thrift industry. Now Independence One Bank is proposing something far more radical: It wants to become a commercial bank because it is no longer able to compete in the home loan business.
BUSINESS
April 27, 1993 | DAVID W. MYERS, TIMES STAFF WRITER
Profits at most California-based banks and thrifts improved last year, as the gap between what lenders charge for their loans and what they pay on customer deposits continued to widen. Seven of the largest 25 publicly traded banks and thrifts recorded a return on average assets of more than 1%, a figure that is considered a benchmark of excellence in the industry. A year earlier, only one lender was able to achieve that goal.
BUSINESS
April 27, 1993
Publicly traded institutions ranked by assets. 1992 Assets % Change Rank Company ($ billions) From 1991 1 BankAmerica Corp. 138.617 36 2 Wells Fargo & Co. 53.046 -6 3 First Interstate Bancorp 49.042 0 4 H. F. Ahmanson & Co. 40.459 -0 5 Great Western Financial 35.902 -3 6 Golden West Financial Corp. 25.465 12 7 First Nationwide Financial 19.413 8 8 Union Bank 17.457 6 9 American Savings Bank 17.174 1 10 CalFed Inc. 16.966 -7 11 Glenfed Inc. 16.859 -17 12 Household Bank 8.
BUSINESS
September 17, 1992 | From Times Staff and Wire Reports
Profits at the nation's savings and loans fell 17.5% to $1.27 billion in the second quarter despite huge gains from lower interest rates, the government said Wednesday. But the industry still earned a record $2.81 billion for the first half of this year, surpassing a previous high of $2.7 billion for the six months that ended March 30, 1986. California's 111 private sector thrifts enjoyed a big boost in earnings, with net income of $94.
BUSINESS
July 23, 1996 | PATRICK LEE, TIMES STAFF WRITER
Monday's announcement by Washington Mutual Inc. that it will take over American Savings Bank of Irvine could be the start of a wave of mergers in the state's thrift industry, which analysts and investors have been waiting on for years.
BUSINESS
January 9, 1998 | Bloomberg News
H.F. Ahmanson & Co. Chairman and Chief Executive Charles Rinehart said investors are overestimating how much the thrift's earnings could fall if interest rates stay low. "The impact is probably not as great as people anticipate," said Rinehart, chief of the nation's second-largest savings and loan, in a telephone interview. Rinehart acknowledged that Ahmanson might have trouble originating adjustable-rate mortgages if interest rates remain low and borrowers favor fixed-rate loans.
BUSINESS
March 1, 1990 | JAMES BATES, TIMES STAFF WRITER
Savings and loans in California continued losing their share of the home lending market to banks and mortgage banking firms in 1989, a California Assn. of Realtors survey shows. The survey of about 1,000 association members released Wednesday showed that S&Ls funded 41% of first mortgages on homes and condominiums the realtors sold, down from 47% a year ago and 59% in 1987.
BUSINESS
May 14, 1988 | BILL SING, Times Staff Writer
Thomas Spiegel, the maverick Columbia Savings chief executive whose $9-million pay package in 1985 was deemed excessive by federal regulators, received $5.46 million in compensation for last year, the company's latest proxy statement reveals. That compared to $4.38 million in 1986 and again made the 41-year-old Spiegel the highest-paid executive in the California savings and loan industry, and one of the highest paid executives nationwide.
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