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BUSINESS
May 22, 1986
The Santa Monica-based insurance company said it will acquire the savings and loan for about $17 million in cash from U.S. Shelter Corp., a real estate syndication firm in Greenville, S.C. The S&L, formed four years ago, has $125 million in assets and offices in Malibu, Fountain Valley and Temecula. The agreement is subject to regulatory approval and is expected to be completed in late 1986 or early 1987.
BUSINESS
May 4, 1988 | James S. Granelli, Times staff writer
Donald C. Headlund, replaced as president and chief executive of Valley Federal Savings & Loan last fall, has been named president and chief executive officer of Malibu Savings Bank in Costa Mesa. Headlund, 53, fills the vacancy of William Fleetwood Jr., who resigned to engage in other business ventures. Fleetwood remains a board member, however. Headlund said he was hired to help Malibu Savings continue its fast growth.
BUSINESS
March 9, 1988 | BRUCE KEPPEL, Times Staff Writer
Fremont General Corp. agreed Tuesday to sell its property and casualty insurance business to a group of investors headed by the subsidiary's senior executives in a deal valued at $82 million. The Santa Monica-based financial services company, which has sought to divest itself of the cyclical property-casualty insurance business for about two years, will concentrate instead on its profitable life insurance, commercial finance and banking business, President James A. McIntyre said in an interview.
NEWS
January 12, 1991 | JOHN O'DELL and JAMES BATES, TIMES STAFF WRITERS
Federal regulators Friday seized insolvent FarWest Savings & Loan Assn., the large thrift controlled by the wealthy Belzberg brothers of Canada, because of mounting losses from junk bonds and bad real estate loans. The failure of Newport Beach-based FarWest, which had $3.8 billion in assets, ranks among the largest in Southern California. Federal regulators would not estimate the cost of the collapse to taxpayers, but one industry analyst said it could approach $500 million.
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