Analysis of information sources in references of the Wikipedia article "H. F. Ahmanson & Co." in English language version.
The Arizona bank also is gearing to close next month on the purchase of four Arizona branches of Irwindale, Calif.-based Home Savings of America.
The combination of Ahmanson, parent of Home Savings of America, and Coast, the Los Angeles-based parent of Coast Federal Bank, will create a thrift with $39.2 billion in deposits in California, Texas and Florida. Some branch closings and layoffs are expected, but the sources said the numbers will probably be small. Coast has 90 California branches and Ahmanson more than 370.
Irwindale-based H.F. Ahmanson & Co. said shareholders of Coast Savings Financial Inc. approved its acquisition of the thrift and that it expects to complete the $900-million transaction today.
The Home Savings branch network was created through the acquisitions of Century Federal Savings & Loan in 1984, Bowery Savings Bank in 1988, Home Savings Bank in 1990 and several branches of Long Island Savings Bank in 1993.
Coast Federal Bank will sell its 19 San Diego County branches to Home Savings of America for $20 million, Coast announced Tuesday. Coast said the sale price is too low to place it in compliance with a new federal guideline requiring S&Ls to boost capital to protect against their riskiest assets. Los Angeles-based Coast has been trying to sell the branches since August. Its inability to do so has left it shy of the new guideline, prompting regulators last month to impose a supervisory agreement on the thrift that limits the amount of deposits it can take in.
Home Savings of America announced that it had reached an agreement with Coast Savings to acquire 19 branch offices in San Diego County. The deal would make Home Savings the seventh largest institution in the county in terms of branch offices. It has 38. Under the agreement, Los Angeles-based Coast will receive a premium of $20 million for the $950 million of deposits in the transaction... With the addition of the Coast branches, Home's total deposit base is $38.6 billion, the largest of any U.S. savings and loan. Home Savings, which has more than $50 billion in assets, operates 374 branch offices in nine states and 95 mortgage lending offices in 13 states. In California, it has 174 branches and 56 mortgage lending offices. Coast Savings Financial Inc., the holding company of Coast Federal Bank, will be left with 101 branches in California. Coast has more than $10 billion in assets.
S&L deal set to close: Home Savings of America, the principal unit of Irwindale-based H.F. Ahmanson & Co., will complete its $20 million acquisition of 19 San Diego County branches of Los Angeles-based Coast Federal Bank on May 3. Home Savings, which has 19 branches in San Diego County, plans to consolidate six of its branches into five of the Coast branches where market areas overlap.
Home Savings completes Coast deal: The Los Angeles-based thrift completed its acquisition of 19 Coast Federal Bank branches in San Diego. The subsidiary of Irwindale-based H.F. Ahmanson & Company paid $20 million for the offices, which have $950 million in deposits.
Home Savings of America has acquired the 10 branches of Santa Barbara-based County Bank from the Resolution Trust Corp., the agency that parcels off the remains of failed thrifts. In announcing the acquisition, Home Savings parent H.F. Ahmanson & Co. said the acquisition includes about $630 million in retail deposits. Four County Bank branches are located in Santa Barbara County, three in Ventura County and three in San Luis Obispo County.
Irwindale-based Home Savings of America has agreed to buy eight Central California branch offices from Coast Federal Bank, the Los Angeles-based savings and loan, officials said Monday. Home Savings now has seven Central California offices. The eight branches have $275 million in deposits. Four of the offices are in Fresno, two in Visalia and one each in Tulare and Sanger. Terms of the sale, which must receive regulatory approval, were not disclosed.
Home Savings of America said Monday it plans to acquire eight branches of Coast Savings Federal Bank, including all four branches in Fresno, one in Sanger, two in Visalia and one in Tulare... Last year, Home Savings bought 19 retail banking offices from Coast. The San Diego offices and Valley offices, were put up for sale in 1990, but the Valley branches were taken off the block after it was decided the bids were too low. Coast contemplated the sale in 1990 because it needed to shrink and thought it best to concentrate on its Los Angeles, San Francisco and Montery locations, officials said. Two years later, the sale of the Valley branches to Home Savings is occurring. A Coast representative declined to comment on what prompted the change of mind. Coast entered the Valley in 1987 by buying out Central Savings, which was based in San Diego. In 1991, Central had acquired First Savings and Loan Association, a Fresno institution founded in 1957 by the late Dr. Karl Falk.
Sale closed: Home Savings of America has completed the acquisition of Coast Federal Bank's eight branches in the San Joaquin Valley. The eight Coast branches have deposits of about $258 million. Four of the branches are in Fresno, two in Visalia, one in Tulare and one in Sanger. Home Savings, with assets of more than $47 billion and deposits of more than $39 billion, is the nation's largest savings institution. It operates 378 savings branches in nine states and 90 mortgage lending offices in 13 states.
Home Savings of America, the largest S&L in the nation with over $50 billion in assets, bought eight branches in San Bernardino and Riverside counties with deposits totaling about $190 million. The Irwindale-based thrift plans to immediately sell one of those branches to First Federal Savings & Loan of San Bernardino, and eventually may consolidate some of the rest into nearby Home Savings branches, but has not yet decided which ones will be affected.
Home Savings of America yesterday said it will buy the four California branches of Northeast Savings, a New England savings and loan that bought the offices just two years ago from government thrift liquidators. The four branches -- in Carlsbad, Escondido, La Jolla and Mira Mesa -- had about $60 million in deposits at the end of last year, according to Home Savings. Financial terms of the deal, expected to be complete this fall, weren't disclosed. But Home Savings plans to close three of its San Diego County branches.
The parent of Hartford-based Northeast Savings said Thursday it plans to sell its four California branches to a thrift in that state as part of its fight to strengthen its banking operations. Northeast Federal Corp. said it has signed a definitive agreement to sell the branches in the San Diego, Calif., area to Home Savings of America of Irwindale, Calif., the nation's largest savings institution. The sale, scheduled to close during the third quarter, is subject to regulatory approval. Terms of the deal, through which Northeast is to sell about $60 million in deposits, were not disclosed. Northeast, which with nearly $4 billion in assets is Connecticut's largest thrift, said it decided to sell the branches as part of its effort to focus on its primary market in Connecticut, New York and Massachusetts... Home Savings of America is the principal subsidiary of H.F. Ahmanson. Home Savings, which has $50 billion in assets, operates 365 branches in seven states. and 92 mortgage lending offices in 12 states.
Home Savings of America took over 23 branches, including two Oceanside branches, of the failed Western Savings Bank of Marina del Rey this week. The Irwindale-based thrift, the nation's largest, took over four San Diego County branches of Northeast Savings in July.
Home Savings of America on Tuesday agreed to acquire the 52 Southern California branches of Household Bank, including 10 in Orange County, for $53 million... The acquisition gives Home Savings $53 billion in assets and 355 savings branches, including 25 in Orange County. Home Savings plans to consolidate 20 of the newly acquired branches into existing Home Savings offices.
Home Savings of America, an Irwindale-based thrift, Monday said it purchased 51 branches of Household Bank's Southern California operations. Home Savings acquired $1.25 billion in deposits.
Home Savings of America will close one of the 15 First Interstate Bank branches it is acquiring in the Sacramento region, the company said Wednesday... In all, Home Savings said it will close 14 overlapping branches throughout the state as it completes its $200 million deal to buy 61 First Interstate branches from Wells Fargo & Co. More closings will be announced in the coming weeks... In March, the thrift said up to 27 of the branches, including one in Sacramento, could close.
H.F. Ahmanson & Co., the parent of Home Savings of America, said Thursday that federal regulators and shareholders have approved its purchase of Coast Savings Financial, the parent of Coast Federal Bank. The $900 million deal, structured as a tax-free exchange of stock, is expected to close today. As part of the acquisition, Ahmanson is closing 52 Coast and Home Savings branches. After the closures, 407 branches will remain... In October, Irwindale-based Ahmanson announced its purchase of Coast, which had 91 branches.
In the deal, Home Savings took over 91 Coast branches. Last week, Home Savings said it is selling 27 Florida branches to SouthTrust Corp., an Alabama-based operator of regional banks. When the targeted branches are closed, the combined company will have about 375 branches in California and Texas.
At first blush, the real winners of the merger-mania sweeping Southern California financial institutions appear to be the sign makers. The paint's barely dry on the new Home Savings logos at former Coast Savings branches, and now they're slated to be covered up by Home's would-be owner, Washington Mutual. Next month, nameplates at American Savings and Great Western Bank are coming down, and Washington Mutual signs will go up... A former Coast customer, Lima said she recently received a letter from Home explaining that her two adjustable-rate mortgages had been transferred to a new office. But when the mortgage payments came due, the new office failed to send the usual payment slip showing the amount owed. She called customer service, but they could find no record of her loans. After a month of phone calls, the problem was cleared up, but the experience left Lima skeptical.
H.F. Ahmanson & Co. completed the purchase of The Bowery Savings Bank in New York for $200 million in cash. The Los Angeles-based parent of Home Savings of America does not plan to merge its Savings of America's New York operations into The Bowery. The Bowery Savings Bank will remain an FDIC-insured institution and will operate as a separate unit of Home Savings. The Bowery has assets of $6.3 billion and operates 25 savings branches in the New York Metropolitan area.
H.F. Ahmanson & Co., the Los Angeles-based parent of Home Savings of America, is scheduled to complete its merger with The Home Savings Bank of New York on Monday, exchanging each share of Home's stock for nearly 1.4 shares of Ahmanson stock.
The Bowery Savings Bank, founded in 1834, will become Home Savings of America on April 20, according to its Los Angeles-based parent, H.F. Ahmanson and Co. The thrift company said it is striving to establish a nationwide identity around the Home Savings of America moniker. That is the name of its flagship unit, the nation's largest thrift. Ahmanson, which acquired Bowery in 1988, said the Home Savings of America name also will be adopted by its two smaller New York thrifts -- Home Savings Bank and Savings of America
Fleet-Norstar Financial Group became Fleet Financial Group and the Bowery Savings Bank took the name of its parent, Home Savings of America.
Home Savings of America, the principal subsidiary of H. F. Ahmanson & Co. (NYSE: AHM), today announced it had acquired five branches of Guardian Federal Savings Association of Huntington Beach from the Resolution Trust Corp. (RTC). The acquisition, which became final at 6 p.m. PDT today, includes approximately $87.4 million in retail deposits in the five branches. Home Savings paid the RTC approximately a $1.8 million premium for the deposits. The branches are located in Huntington Beach, Long Beach, Rancho Mirage, Hemet and San Jose, Calif. Home Savings is also purchasing approximately $9.8 million of Guardian Federal's assets, which consist of cash and cash equivalents.Link(subscription required) via ProQuest.
Home Savings of America, Irwindale, Calif., a unit of H.F. Ahmanson & Co., said it agreed to pay Wells Fargo & Co. about $206 million for 61 bank branches in California. Through the transaction, Ahmanson gains a stronger presence in California, where it is already the third-largest financial institution. The branches it is buying have about $2.5 billion in deposits and $1.3 billion in loans. Wells Fargo is selling the branches in connection with its acquisition of First Interstate Bancorp. Ahmanson said it expects to consolidate as many as 27 of the branches.Alternate Link(subscription required) via ProQuest.
H.F. Ahmanson & Co. has agreed to acquire smaller rival Coast Savings Financial Inc. for about $900 million, or $46.17 a share, plus certificates representing any cash awards from lawsuits against the U.S. government, say people familiar with the situation.Alternate Link(subscription required) via ProQuest.
H.F. Ahmanson & Co. has agreed to acquire smaller rival Coast Savings Financial Inc. for about $900 million, or $46.17 a share, plus certificates representing any cash awards from lawsuits against the U.S. government, say people familiar with the situation.Alternate Link(subscription required) via ProQuest.
