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Sears Savings Bank

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NEWS
May 2, 1993
Sunshine Mission-Casa de Rosas, a shelter and hotel for homeless and low-income women, has received a $5,000 grant from Sears Savings Bank to cover the costs of landscaping the grounds around the historic building. The 100-year-old landmark near USC was designed by architect Sumner P. Hunt in the Mission Revival style. Initially called the Froebel Institute, the building housed educational reformers active in developing kindergarten education.
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NEWS
April 4, 1993 | JAKE DOHERTY
The Western Heights Neighborhood Assn. has received $10,000 in grants from Sears Savings Bank for security improvements and beautification projects in its neighborhood in the West Adams district. The group, which has a membership of about 75 families in the area bounded by Western and Arlington avenues on the east and west, and 20th and 21st streets on the north and south, plans to install gates to close two crime-ridden alleys, said Sue German, the group's president.
BUSINESS
May 12, 1993 | DAVID W. MYERS, TIMES STAFF WRITER
Sears, Roebuck & Co. said Tuesday that it will sell its Glendale-based savings bank and two related mortgage operations to PNC Bank Corp. for $328 million in cash. The sale is expected to make Pittsburgh-based PNC the fifth-largest mortgage lender in the nation. Analysts said the transaction was a new affirmation that Sears' longtime effort to build itself into a successful retail, banking and real estate giant has failed. Tuesday's deal represents "a good move for Sears," said N.
NEWS
January 31, 1993 | JAKE DOHERTY
The Adams-Normandie Neighborhood Assn. has received $10,000 in grants from Sears Savings Bank for neighborhood beautification and security projects. "Sears has cut through all the red tape by reaching people in our neighborhood with its investments," said Marianne Muellerleile, president of the association of about 50 homeowners, tenants and block club leaders. "It's a clear message that they want to help us make our neighborhood a safer and more enjoyable place to live."
BUSINESS
October 15, 1987 | TOM FURLONG, Times Staff Writer
Sears Savings Bank plans to close all but one of its remaining 41 branch offices in California, a move that will result in the layoff of 460 workers, the financial institution said Wednesday. The 40 Sears Savings Bank offices affected by the closure are in Sears, Roebuck department stores throughout the state and are one element of the cluster of Sears companies that offers a potpourri of financial services to California customers.
BUSINESS
May 12, 1993 | DAVID W. MYERS, TIMES STAFF WRITER
Sears, Roebuck & Co. said Tuesday that it will sell its Glendale-based savings bank and two related mortgage operations to PNC Bank Corp. for $328 million in cash. The sale is expected to make Pittsburgh-based PNC the fifth-largest mortgage lender in the nation. Analysts said the transaction was a new affirmation that Sears' longtime effort to build itself into a successful retail, banking and real estate giant has failed. Tuesday's deal represents "a good move for Sears," said N.
BUSINESS
July 1, 1987
With the purchase of 50 Sears Savings branches--all but 16 in Southern California--Citicorp added $2 billion in deposits and moved into ninth position among California S&Ls. Citicorp completed the deal with a unit of Sears, Roebuck & Co. after gaining Federal Reserve approval. The acquisition gives Oakland-based Citicorp Savings 136 branches in California and about $6.8 billion in total assets.
BUSINESS
January 23, 1987 | TOM FURLONG, Times Staff Writer
Sears Savings Bank--the division of Sears, Roebuck & Co. that fell on hard times in 1986--is negotiating to sell about 50 of its 91 branch offices in California to a single buyer, industry sources have told The Times. Citicorp Savings in Oakland is the leading candidate to acquire the branches, industry officials believe. Sears Savings Bank operates as part of Dean Witter Financial Services Group, which in turn is part of Chicago-based Sears, Roebuck, the nation's largest retailer.
NEWS
May 2, 1993
Sunshine Mission-Casa de Rosas, a shelter and hotel for homeless and low-income women, has received a $5,000 grant from Sears Savings Bank to cover the costs of landscaping the grounds around the historic building. The 100-year-old landmark near USC was designed by architect Sumner P. Hunt in the Mission Revival style. Initially called the Froebel Institute, the building housed educational reformers active in developing kindergarten education.
NEWS
April 4, 1993 | JAKE DOHERTY
The Western Heights Neighborhood Assn. has received $10,000 in grants from Sears Savings Bank for security improvements and beautification projects in its neighborhood in the West Adams district. The group, which has a membership of about 75 families in the area bounded by Western and Arlington avenues on the east and west, and 20th and 21st streets on the north and south, plans to install gates to close two crime-ridden alleys, said Sue German, the group's president.
NEWS
January 31, 1993 | JAKE DOHERTY
The Adams-Normandie Neighborhood Assn. has received $10,000 in grants from Sears Savings Bank for neighborhood beautification and security projects. "Sears has cut through all the red tape by reaching people in our neighborhood with its investments," said Marianne Muellerleile, president of the association of about 50 homeowners, tenants and block club leaders. "It's a clear message that they want to help us make our neighborhood a safer and more enjoyable place to live."
BUSINESS
October 15, 1987 | TOM FURLONG, Times Staff Writer
Sears Savings Bank plans to close all but one of its remaining 41 branch offices in California, a move that will result in the layoff of 460 workers, the financial institution said Wednesday. The 40 Sears Savings Bank offices affected by the closure are in Sears, Roebuck department stores throughout the state and are one element of the cluster of Sears companies that offers a potpourri of financial services to California customers.
BUSINESS
July 1, 1987
With the purchase of 50 Sears Savings branches--all but 16 in Southern California--Citicorp added $2 billion in deposits and moved into ninth position among California S&Ls. Citicorp completed the deal with a unit of Sears, Roebuck & Co. after gaining Federal Reserve approval. The acquisition gives Oakland-based Citicorp Savings 136 branches in California and about $6.8 billion in total assets.
BUSINESS
January 23, 1987 | TOM FURLONG, Times Staff Writer
Sears Savings Bank--the division of Sears, Roebuck & Co. that fell on hard times in 1986--is negotiating to sell about 50 of its 91 branch offices in California to a single buyer, industry sources have told The Times. Citicorp Savings in Oakland is the leading candidate to acquire the branches, industry officials believe. Sears Savings Bank operates as part of Dean Witter Financial Services Group, which in turn is part of Chicago-based Sears, Roebuck, the nation's largest retailer.
BUSINESS
June 6, 1986
Susan E. Kelsey was appointed senior vice president of loan portfolio management of Sears Savings Bank, Glendale.
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