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Washington Mutual Inc

BUSINESS
January 6, 2005 | From Reuters
Washington Mutual Inc., the nation's largest savings and loan, said Wednesday that retail banking president Deanna Oppenheimer would resign from the company to pursue other business ventures. Many analysts have called Oppenheimer, 46, one of the most influential women in U.S. banking. In 2003, she ranked fifth in U.S. Banker magazine's survey of the most powerful female bankers.
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BUSINESS
August 25, 2004 | E. Scott Reckard, Times Staff Writer
For Washington Mutual Inc., the glory days of growth and acquisitions have given way to layoffs and lowered expectations. The Seattle-based savings and loan, which became the nation's largest after swallowing three major California thrifts, is completing 13,450 job cuts, closing 100 mortgage offices and shuttering 53 commercial banking branches. WaMu reported zero income from mortgages in the second quarter, compared with $611 million last year. Overall profit was down 49%.
BUSINESS
July 23, 2004 | From Associated Press
Washington Mutual Inc. said it would eliminate 2,500 jobs and close operations across the country while trying to improve performance at its struggling mortgage business. The Seattle-based banking company said it planned to eliminate about 1,840 jobs and close approximately 100 retail lending and loan processing offices. The rest of the jobs will be eliminated when the company closes a mortgage loan processing facility in San Antonio. Washington Mutual shares fell 40 cents to $39.
BUSINESS
July 22, 2004 | From Bloomberg News
Washington Mutual Inc., the biggest U.S. savings and loan, said second-quarter profit fell 51% as rising interest rates damped consumers' demand for mortgage loans. Net income fell to $489 million, or 55 cents a share, from $995 million, or $1.07 a share -- excluding discontinued operations -- a year ago, the Seattle-based company said. It was expected to earn 60 cents, the average estimate of 12 analysts surveyed by Thomson First Call.
BUSINESS
May 22, 2004 | From Reuters
Shares of Washington Mutual Inc. rose 9% on Friday on speculation that the nation's largest savings and loan might be sold to HSBC Holdings, Britain's biggest bank. The conjecture mounted after Bill Aldinger, chief executive of HSBC North America Holdings Inc., this week told British newspapers that HSBC planned more U.S. acquisitions. A purchase of Seattle-based Washington Mutual would make HSBC about the same size as Citigroup Inc.
BUSINESS
March 16, 2004 | E. Scott Reckard
A software glitch caused problems for up to 30,000 Washington Mutual Inc. customers who tried to use debit cards for purchases, had the transactions rejected and then, in some cases, were charged anyway, the savings and loan said. The troubles occurred mainly in California and Eastern states Sunday from 9 a.m. to 2 p.m. Pacific time, when technicians replaced a corrupted file, said Timothy McGarry, a spokesman for the Seattle-based company.
BUSINESS
December 10, 2003 | From Bloomberg News
Washington Mutual Inc., the second-biggest U.S. mortgage lender, cut its estimate for 2003 earnings Tuesday and said it was firing 7,400 people because of a decline in home borrowing. Shares of the company had their biggest drop in more than two years and dragged down those of other lenders. Washington Mutual, which has branches in 14 states, will earn $4.15 to $4.25 a share this year, Chief Executive Kerry Killinger said.
BUSINESS
November 25, 2003 | From Reuters
Citigroup Inc., the world's largest financial services company, said Monday that it had agreed to buy Washington Mutual Inc.'s consumer finance unit for $1.25 billion, expanding its consumer lending business. Buying Tampa, Fla.-based Washington Mutual Finance Corp. would give Citigroup 409 Washington Mutual Finance offices in 25 states, primarily in the Southeast and Southwest, including California.
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