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Savings And Loans Orange County

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BUSINESS
January 7, 1993 | TED JOHNSON, SPECIAL TO THE TIMES
Orange County's 22 savings and loans, helped by favorable interest rates and a high volume of home mortgage refinancings, boosted their total earnings to more than $45 million for the third quarter of 1992. The thrifts rebounded from $3.8 million in losses for the same period a year earlier, when 23 S&Ls were based in the county. Most of the losses then came from FarWest Savings in Newport Beach, which was operated by federal regulators and has since been closed.
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BUSINESS
May 9, 1996 | James S. Granelli
A decade ago, without computer programs to help, the task of compiling profits, losses and other statistics for all 33 savings and loans based in Orange County was time-consuming. Today, the task is easy, but newer technology isn't the reason: There are only seven S&Ls left in the county. In addition, it isn't much of a surprise to find that the survivors posted combined net income of $201.7 million.
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BUSINESS
June 23, 1993 | HENRY WEINSTEIN, TIMES LEGAL AFFAIRS WRITER
Southern California's position as the financial fraud capital of the nation appears to be more entrenched than ever, but the nature of the white-collar crimes is changing, law enforcement officials said Tuesday. Failures in the fraud-ridden savings and loan industry are declining, but law enforcement officials say there has been an upswing in crimes relating to small-business and real estate lending.
BUSINESS
April 25, 1995 | GEOFF BOUCHER, SPECIAL TO THE TIMES
Orange County's dwindling savings and loan industry, pushing low-starting adjustable rate mortgages while interest rates in general rose last year, needed its two biggest thrifts to help it record combined annual earnings of $240.6 million. Without American Savings Bank in Irvine and Household Bank in Newport Beach, the county's 11 other S&Ls would have posted a combined loss of $10 million last year.
BUSINESS
December 5, 1992 | CHRIS WOODYARD
A Huntington Beach thrift that reported the biggest loss among Orange County financial institutions for the quarter ended June 30 was declared insolvent Friday and closed by state officials. Huntington Pacific Thrift and Loan Assn., with assets of $42 million, was shuttered at 5 p.m. Friday by the California Commissioner of Corporations. The Federal Deposit Insurance Corp., which insures deposits at the nation's banks and thrifts, was named receiver.
BUSINESS
January 9, 1992 | JAMES S. GRANELLI
Feeling the effects of the recession, Orange County's savings and loans reported an aggregate loss of $3.8 million for the third quarter of 1991. The red ink comes after the 23 county-based thrifts posted two consecutive quarterly profits during the first six months last year, a feat the local S&L industry hadn't achieved in nearly a decade. The small loss, however, barely affected the bottom line for the first nine months, which amounted to net income of $76.3 million for the same thrifts.
BUSINESS
June 25, 1991
Orange County's 24 savings and loans posted $68 million in net income for the first quarter this year. The same thrifts posted a profit in last year's first quarter, but the local industry then included several insolvent but still operating thrifts--such as Lincoln Savings & Loan in Irvine--that pushed overall earnings into the red by $92 million. At the end of March, half the thrifts met all federal capital requirements and also made a profit.
BUSINESS
June 15, 1991 | JAMES S. GRANELLI, TIMES STAFF WRITER
Orange County's 24 savings and loans, benefiting from lower interest rates on deposits and bigger profit margins, posted their first quarterly profit in two years, chalking up combined earnings of $68 million. In last year's first quarter, the local thrift industry lost $147 million, mostly because of losses at failed institutions operated by federal regulators.
BUSINESS
May 9, 1996 | James S. Granelli
A decade ago, without computer programs to help, the task of compiling profits, losses and other statistics for all 33 savings and loans based in Orange County was time-consuming. Today, the task is easy, but newer technology isn't the reason: There are only seven S&Ls left in the county. In addition, it isn't much of a surprise to find that the survivors posted combined net income of $201.7 million.
BUSINESS
September 25, 1993 | JAMES S. GRANELLI, TIMES STAFF WRITER
The ongoing boom in home loan refinancings helped Orange County's 22 savings and loans post a combined profit of $75 million for the second quarter, according to figures released Friday by the federal government. The local thrift industry's net income was 13% higher than its earnings of $66.5 million for the second quarter last year. "Refinancing certainly is still the center point, particularly in California," said Thomas E. Prince, chief financial officer at Downey Savings & Loan.
BUSINESS
September 25, 1993 | JAMES S. GRANELLI, TIMES STAFF WRITER
The ongoing boom in home loan refinancings helped Orange County's 22 savings and loans post a combined profit of $75 million for the second quarter, according to figures released Friday by the federal government. The local thrift industry's net income was 13% higher than its earnings of $66.5 million for the second quarter last year. "Refinancing certainly is still the center point, particularly in California," said Thomas E. Prince, chief financial officer at Downey Savings & Loan.
BUSINESS
June 23, 1993 | HENRY WEINSTEIN, TIMES LEGAL AFFAIRS WRITER
Southern California's position as the financial fraud capital of the nation appears to be more entrenched than ever, but the nature of the white-collar crimes is changing, law enforcement officials said Tuesday. Failures in the fraud-ridden savings and loan industry are declining, but law enforcement officials say there has been an upswing in crimes relating to small-business and real estate lending.
BUSINESS
March 30, 1993 | JAMES S. GRANELLI, TIMES STAFF WRITER
Buoyed by a runaway refinancing market, Orange County's savings and loan industry ended a decade-long drought by posting a profit of $302.1 million for 1992. In previous years, local thrifts' earnings have been dragged down by losses at failed S&Ls that regulators seized but continued to operate. Last year, such failures among the county's 22 thrifts didn't damage earnings much. The same S&Ls earned a profit for 1991, but the industry as a whole lost $20.
BUSINESS
January 7, 1993 | TED JOHNSON, SPECIAL TO THE TIMES
Orange County's 22 savings and loans, helped by favorable interest rates and a high volume of home mortgage refinancings, boosted their total earnings to more than $45 million for the third quarter of 1992. The thrifts rebounded from $3.8 million in losses for the same period a year earlier, when 23 S&Ls were based in the county. Most of the losses then came from FarWest Savings in Newport Beach, which was operated by federal regulators and has since been closed.
BUSINESS
December 5, 1992 | CHRIS WOODYARD
A Huntington Beach thrift that reported the biggest loss among Orange County financial institutions for the quarter ended June 30 was declared insolvent Friday and closed by state officials. Huntington Pacific Thrift and Loan Assn., with assets of $42 million, was shuttered at 5 p.m. Friday by the California Commissioner of Corporations. The Federal Deposit Insurance Corp., which insures deposits at the nation's banks and thrifts, was named receiver.
BUSINESS
November 10, 1992 | JAMES S. GRANELLI, TIMES STAFF WRITER
Sterling Savings & Loan has quietly closed its doors. A healthy, once fast-growing thrift buoyed by its real estate development subsidiaries, Sterling turned in its charter to the Office of Thrift Supervision, a little more than three months shy of what would have been its ninth anniversary. Sterling was not troubled. It was not seized by regulators, and its closing did not cost the government a dime. In fact, it was the state's top-rated S&L for several years running.
BUSINESS
April 25, 1995 | GEOFF BOUCHER, SPECIAL TO THE TIMES
Orange County's dwindling savings and loan industry, pushing low-starting adjustable rate mortgages while interest rates in general rose last year, needed its two biggest thrifts to help it record combined annual earnings of $240.6 million. Without American Savings Bank in Irvine and Household Bank in Newport Beach, the county's 11 other S&Ls would have posted a combined loss of $10 million last year.
BUSINESS
April 8, 1992 | JAMES S. GRANELLI, TIMES STAFF WRITER
Orange County's 32 banks, reeling from the recession and costly regulatory demands, posted a combined profit of $4.6 million in 1991, down 89% from the prior year. And the county's 22 savings and loans, still crippled by a few government-run, mega-money losers, were again mired in their annual outpouring of red ink, posting a combined loss of $20.6 million.
BUSINESS
April 8, 1992 | JAMES S. GRANELLI, TIMES STAFF WRITER
Orange County's 32 banks, reeling from the recession and costly regulatory demands, posted a combined profit of $4.6 million in 1991, down 89% from the prior year. And the county's 22 savings and loans, still crippled by a few government-run, mega-money losers, were again mired in their annual outpouring of red ink, posting a combined loss of $20.6 million.
BUSINESS
January 9, 1992 | JAMES S. GRANELLI
Feeling the effects of the recession, Orange County's savings and loans reported an aggregate loss of $3.8 million for the third quarter of 1991. The red ink comes after the 23 county-based thrifts posted two consecutive quarterly profits during the first six months last year, a feat the local S&L industry hadn't achieved in nearly a decade. The small loss, however, barely affected the bottom line for the first nine months, which amounted to net income of $76.3 million for the same thrifts.
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