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Security Pacific Bank Washington

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BUSINESS
January 16, 1989 | United Press International
A small central Washington bank is taking on $79-billion banking giant Security Pacific Bank of Los Angeles in a trademark dispute. Security Pacific Bank last year completed its takeover of Seattle-based Rainier National Bank, which Jan. 1 changed its name to Security Pacific Bank Washington. That's causing confusion among consumers, Security Bank of Washington charges in a lawsuit filed in Grant County Superior Court.
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BUSINESS
November 8, 2008 | E. Scott Reckard, Reckard is a Times staff writer.
Crippled by loans to Inland Empire developers and home builders, Security Pacific Bank of West Los Angeles was shut down Friday by regulators, who said L.A.-based Pacific Western Bank would take over its four branches. Depositors of the failed bank will have their $450 million in accounts transferred to 60-branch Pacific Western, which also is buying some of Security Pacific's loans, the California Department of Financial Institutions and the Federal Deposit Insurance Corp. said.
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BUSINESS
November 8, 2008 | E. Scott Reckard, Reckard is a Times staff writer.
Crippled by loans to Inland Empire developers and home builders, Security Pacific Bank of West Los Angeles was shut down Friday by regulators, who said L.A.-based Pacific Western Bank would take over its four branches. Depositors of the failed bank will have their $450 million in accounts transferred to 60-branch Pacific Western, which also is buying some of Security Pacific's loans, the California Department of Financial Institutions and the Federal Deposit Insurance Corp. said.
BUSINESS
August 13, 1991 | SUSAN MOFFAT, TIMES STAFF WRITER
The merger of BankAmerica Corp. and Security Pacific Corp. could mean some of the most massive banking industry layoffs in recent history, with as many as 20,000 workers--more than 20% of the two banks' employees--losing their jobs and several hundred branches becoming targets for closure, analysts say. The banks won't yet say how many people they expect to lay off.
BUSINESS
August 13, 1991 | SUSAN MOFFAT, TIMES STAFF WRITER
The merger of BankAmerica Corp. and Security Pacific Corp. could mean some of the most massive banking industry layoffs in recent history, with as many as 20,000 workers--more than 20% of the two banks' employees--losing their jobs and several hundred branches becoming targets for closure, analysts say. The banks won't yet say how many people they expect to lay off.
BUSINESS
March 8, 1989 | From United Press International
American Pacific Corp. said one of its subsidiaries is negotiating a term loan for up to $92 million for the construction of the unit's new ammonium perchlorate plant in Iron County, Utah. The company is negotiating with Security Pacific Bank Washington N.A.
BUSINESS
March 12, 1991
Spear Financial Services Inc. in Glendale reported a profit of $1.07 million for 1990, compared with a loss of $615,261 the previous year. Spear, which provides discount brokerage and insurance investment products, said the earnings turnaround came on a 26% increase in revenue, to $25.5 million from $20.2 million. The company, whose insurance investments are sold by its James Mitchell & Co.
BUSINESS
July 30, 1991
Spear Financial Services Inc. in Glendale said its second-quarter profit jumped 54% from a year earlier, aided by a one-time gain of $830,000. In the quarter ended June 30, Spear earned $758,900, up from $491,591 a year earlier. Its second-quarter revenue rose 31%, to $8.25 million from $6.32 million. Spear provides discount brokerage services and sells insurance-related investments through bank offices.
NEWS
January 20, 1991 | DAVID FOSTER, ASSOCIATED PRESS
He has no job and no money for rent, but carpenter Reuben Soto still believes the Northwest's economy is tops in the nation. Trouble is, he's right. In the late 1980s, the Northwest became the jewel of the U.S. economy, sparkling atop charts of economic growth and livability. The region still outshines the gloomy national economy, but that's not saying much. As Reuben Soto discovered firsthand, the great Northwest boom is fading.
BUSINESS
January 16, 1989 | United Press International
A small central Washington bank is taking on $79-billion banking giant Security Pacific Bank of Los Angeles in a trademark dispute. Security Pacific Bank last year completed its takeover of Seattle-based Rainier National Bank, which Jan. 1 changed its name to Security Pacific Bank Washington. That's causing confusion among consumers, Security Bank of Washington charges in a lawsuit filed in Grant County Superior Court.
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