Advertisement
YOU ARE HERE: LAT HomeCollectionsValley Federal Savings
IN THE NEWS

Valley Federal Savings

FEATURED ARTICLES
BUSINESS
November 1, 1988
Valley Federal Savings & Loan reported it earned $132,000 in the third quarter that ended Sept. 30 compared to $5.9 million, or 96 cents a share, in the same period a year earlier. However, Valley Fed's profit was not enough to cover required payments to preferred dividend shareholders. As a result, Valley Fed posted a per share loss for the quarter of 3 cents a share. For the nine months that ended Sept. 30, the company lost $3.1 million.
ARTICLES BY DATE
BUSINESS
April 21, 1992 | JACK SEARLES
Of the four Ventura County branches of Valley Federal Savings that were acquired in a Resolution Trust Corp. rescue, at least two will be closed. The fate of the other two is undecided. At present, all four offices remain open, but those in Camarillo and Simi Valley will be shuttered within two months and their accounts transferred to nearby Bank of A. Levy branches, Levy Bancorp spokesman Rod Dillehay said.
Advertisement
BUSINESS
June 23, 1987
Valley Federal Savings & Loan Assn. of Van Nuys has agreed to purchase the Oakhurst branch of 49er Savings & Loan, a division of Girard Savings Bank in San Diego. The acquisition, subject to regulatory approval, is expected to be completed by the end of the year. No price was given. The 49er branch, with about $27 million in deposits, will merge with Valley Federal's Oakhurst branch to create an office with more than $50 million in deposits. Valley Federal has assets of $2.
BUSINESS
May 22, 1990 | JOHN MEDEARIS, TIMES STAFF WRITER
Valley Federal Savings said the federal Office of Thrift Supervision lifted restrictions imposed on it in January that prevented it from making new loans or accepting uninsured deposits. The limits were lifted as the Van Nuys-based thrift's board of directors reached an operating agreement with the OTS formalizing the firm's plan to boost its capital reserves.
CALIFORNIA | LOCAL
May 11, 1989
"In retrospect, my decision to engage in outside employment was a mistake because of the perceptions it created. I now recognize that error and I will always regret it." --Mayor Tom Bradley, who faces four independent investigations into his financial relationships with the Far East National Bank and Valley Federal Savings & Loan.
BUSINESS
December 10, 1985
Van Nuys-based Valley Federal Savings named Donald C. Headlund, executive vice president and corporate secretary, to its board of directors. Headlund replaces William Sachau, who resigned for personal reasons, spokesman Scott Shepherd said. Headlund will serve on the board until the next annual stockholders' meeting in the spring, Shepherd said.
BUSINESS
January 28, 1986
Valley Federal Savings, a Van Nuys-based savings and loan association, announced that Michael Laurin was promoted to senior executive vice president. Laurin had been an executive vice president. The S&L also promoted three executives to administrative vice president: Rosemary Pendarvis, who had been a loan production administrator, Thomas Patrick, formerly a secondary marketing administrator, and Charlotte Kenworthy, previously a branch administrator.
CALIFORNIA | LOCAL
April 13, 1989
"I think unquestionably the issues that have been raised over the course of the last three weeks have raised some doubts on the part of some people, and I want to put aside all such doubts." --Mayor Tom Bradley, announcing after his unexpectedly low show of support on Election Day that he would defuse conflict-of-interest allegations by resigning as a paid director emeritus of Valley Federal Savings & Loan Assn. and create a commission to give the city a new ethics code.
BUSINESS
May 2, 1989 | From Times wire services
Valley Federal Savings & Loan continued its financial slide in the first quarter with profits of $178,000, compared with $1.4 million the same time last year, the Van Nuys-based thrift said. Valley Acceptance, the S&L's loss-ridden subsidiary that provides mobile home loans, lost $3.8 million in the first quarter, the company reported Monday. Valley Federal lost $3 million in 1988. Jack Allewaert, chief operating officer, told shareholders at their meeting last week that the thrift is being hurt by the recent rise in interest rates.
BUSINESS
June 30, 1989
James J. Cotter, who last year waged a proxy fight to win a seat on the board of Valley Federal Savings & Loan, quit his director's post at the Van Nuys-based S&L . . . New York-based venture capital firm J. H. Whitney & Co. officially launched its tender offer, valued at between $1.2 billion and $1.4 billion, for Prime Computer Inc. on Thursday, while MAI Basic Four Inc. extended its offer without announcing whether it will match or beat the rival...
CALIFORNIA | LOCAL
May 25, 1989 | CATHLEEN DECKER, Times Staff Writer
The city attorney's investigation into Mayor Tom Bradley's financial holdings has widened to include a comprehensive look at all potential conflicts of interest involving the mayor, senior officials indicated Wednesday. The indication came when Councilman Michael Woo, in a meeting of the council's Governmental Operations Committee, asked Assistant City Atty. Charles Goldenberg whether the investigation he is directing will look at the relationship between city officials and the troubled investment firm of Drexel Burnham Lambert.
CALIFORNIA | LOCAL
May 11, 1989
"In retrospect, my decision to engage in outside employment was a mistake because of the perceptions it created. I now recognize that error and I will always regret it." --Mayor Tom Bradley, who faces four independent investigations into his financial relationships with the Far East National Bank and Valley Federal Savings & Loan.
BUSINESS
May 2, 1989 | From Times wire services
Valley Federal Savings & Loan continued its financial slide in the first quarter with profits of $178,000, compared with $1.4 million the same time last year, the Van Nuys-based thrift said. Valley Acceptance, the S&L's loss-ridden subsidiary that provides mobile home loans, lost $3.8 million in the first quarter, the company reported Monday. Valley Federal lost $3 million in 1988. Jack Allewaert, chief operating officer, told shareholders at their meeting last week that the thrift is being hurt by the recent rise in interest rates.
BUSINESS
May 2, 1989 | JAMES F. PELTZ, Times Staff Writer
The annual meeting last Thursday of Valley Federal Savings & Loan was marked by plenty of grumbling by stockholders. Then again, the Van Nuys-based thrift has given them plenty to grumble about. Valley Federal, with $3.44 billion in assets, lost $3 million in 1988 and last week reported a first-quarter profit of $178,000, compared with a $1.4 million profit a year earlier. All Valley Acceptance, a loss-ridden Valley Federal subsidiary that provides loans for mobile homes, lost another $3.8 million in the quarter.
BUSINESS
June 30, 1989
James J. Cotter, who last year waged a proxy fight to win a seat on the board of Valley Federal Savings & Loan, quit his director's post at the Van Nuys-based S&L . . . New York-based venture capital firm J. H. Whitney & Co. officially launched its tender offer, valued at between $1.2 billion and $1.4 billion, for Prime Computer Inc. on Thursday, while MAI Basic Four Inc. extended its offer without announcing whether it will match or beat the rival...
BUSINESS
April 21, 1992 | JACK SEARLES
Of the four Ventura County branches of Valley Federal Savings that were acquired in a Resolution Trust Corp. rescue, at least two will be closed. The fate of the other two is undecided. At present, all four offices remain open, but those in Camarillo and Simi Valley will be shuttered within two months and their accounts transferred to nearby Bank of A. Levy branches, Levy Bancorp spokesman Rod Dillehay said.
CALIFORNIA | LOCAL
April 27, 1989 | From Times Wire Services
Police detectives have been asked to help the city attorney investigate possible conflict of interest involving Mayor Tom Bradley's links to two financial institutions, a Los Angeles Police Department spokesman said Wednesday. Bradley, appearing at a news conference to announce the formation of a city Commission on Disability, said he welcomed the probe, considered the police involvement "routine" and has set up an Ethics Commission to review ways of limiting conflict of interest by all city officials.
BUSINESS
April 25, 1989 | JAMES F. PELTZ, Times Staff Writer
A year ago, businessman James J. Cotter successfully waged a bitter proxy fight to become a director of Valley Federal Savings & Loan, a large but struggling thrift in the San Fernando Valley with $3.5 billion in assets. This year, Cotter is asking Valley Federal's stockholders to pay him for his effort. In proxy material for Valley Federal's annual meeting, scheduled Thursday, the Van Nuys-based savings and loan stated that Cotter and Hecco Ventures I, an investment partnership of which Cotter is a partner, "made demand for reimbursement" of $347,869.
Los Angeles Times Articles
|