Golden West Financial Releases Thirteen Month Statistical Data.OAKLAND Oakland, city (1990 pop. 372,242), seat of Alameda co., W Calif., on the eastern side of San Francisco Bay; inc. 1852. Together with San Francisco and San Jose, the city comprises the fourth largest metropolitan area in the United States. , Calif. -- Golden West Financial Corporation (NYSE NYSE See: New York Stock Exchange :GDW GDW Game Designers' Workshop (wargame and roleplaying game company) GDW Ginga Densetsu Weed (manga/anime) GDW Genau Dann Wenn (German: If and Only If) GDW globally distributed work ), parent of World Savings Bank savings bank, financial institution that, until recently, performed only the following functions: receiving savings deposits of individuals, investing them, and providing a modest return to its depositors in the form of interest. , today released statistical data for the thirteen months ended June June: see month. 30, 2006. Headquartered in Oakland, California “Oakland” redirects here. For other uses, see Oakland (disambiguation). Oakland (IPA: /ˈoʊklənd/), founded in 1852, is the eighth-largest city in the U.S. , Golden West is one of the nation's largest financial institutions with assets over $125 billion as of June 30, 2006. The Company has one of the most extensive thrift thrift: see leadwort. branch systems in the country, with 285 savings branches in 10 states and lending operations in 39 states. Golden West's stock is listed on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors GDW. Golden West investor information is available at www.gdw.com.
GOLDEN WEST FINANCIAL CORPORATION AND SUBSIDIARIES
MONTHLY FINANCIAL HIGHLIGHTS
June 2005 - June 2006
(Dollars in millions)
2006
---------------------------------------
JUN MAY APR MAR
--------- --------- --------- ---------
Total Assets $128,806 $128,930 $128,120 $127,556
Cash and Investments $ 2,158 $ 2,442 $ 2,148 $ 2,181
Loans and MBS $123,518 $123,381 $122,835 $122,300
Adjustable Rate Mortgages and
MBS $120,488 $120,304 $119,844 $119,240
Loans Originated - Month $ 3,907 $ 3,968 $ 3,816 $ 4,472
Percentage ARMs - Month 99% 99% 99% 99%
Percentage Refinances -
Month 84% 83% 85% 85%
Loans Originated - YTD $ 23,257 $ 19,350 $ 15,382 $ 11,566
Percentage ARMs - YTD 99% 99% 99% 99%
Percentage Refinances - YTD 84% 84% 85% 84%
Total Deposits $ 62,234 $ 61,650 $ 61,063 $ 61,583
Total Deposit Net Activity -
Month $ 584 $ 587 $ (520) $ 527
Total Deposit Net Activity -
YTD $ 2,076 $ 1,492 $ 905 $ 1,425
Federal Home Loan Bank
Borrowings $ 38,447 $ 37,601 $ 38,504 $ 38,509
Other Borrowings:
Reverse Repurchases 5,600 5,850 6,200 5,900
Bank Notes 2,183 3,221 3,620 2,977
Senior Debt 9,564 9,567 8,075 8,075
--------- --------- --------- ---------
Total Borrowings $ 55,794 $ 56,239 $ 56,399 $ 55,461
========= ========= ========= =========
Yield on Loan Portfolio 7.04% 6.93% 6.82% 6.71%
Yield on Interest-Earning
Investments 5.30 5.11 4.90 4.91
--------- --------- --------- ---------
Combined Yield on Interest-
Earning Assets 7.02% 6.91% 6.80% 6.69%
Cost of Savings 3.94% 3.79% 3.66% 3.56%
Cost of Federal Home Loan Bank
Borrowings 5.23 5.06 4.89 4.75
Cost of Other Borrowings 5.30 5.10 5.00 4.87
--------- --------- --------- ---------
Combined Cost of Funds 4.56% 4.40% 4.27% 4.14%
--------- --------- --------- ---------
Net Interest Rate Spread
(Primary Spread) 2.46% 2.51% 2.53% 2.55%
========= ========= ========= =========
Loans Sold $ 118 $ 118 $ 94 $ 77
Loan and MBS Repayments and
Payoffs - Month $ 3,767 $ 3,553 $ 3,224 $ 3,683
As a % of Prior Month Loan
Balance (Annualized) 36.91% 34.96% 31.87% 36.63%
Nonperforming Assets and
Troubled Debt Restructured as
a % of Total Assets .37% .35% .35% .34%
2006 2005
------------------- -------------------
FEB JAN DEC NOV
--------- --------- --------- ---------
Total Assets $126,475 $125,332 $124,615 $124,456
Cash and Investments $ 1,904 $ 1,803 $ 2,222 $ 3,052
Loans and MBS $121,526 $120,521 $119,366 $118,435
Adjustable Rate Mortgages and
MBS $118,407 $117,519 $116,370 $115,258
Loans Originated - Month $ 3,520 $ 3,574 $ 4,587 $ 4,255
Percentage ARMs - Month 99% 99% 99% 99%
Percentage Refinances -
Month 86% 83% 81% 81%
Loans Originated - YTD $ 7,094 $ 3,574 $ 51,516 $ 46,929
Percentage ARMs - YTD 99% 99% 99% 99%
Percentage Refinances - YTD 84% 83% 77% 77%
Total Deposits $ 61,056 $ 60,523 $ 60,158 $ 60,268
Total Deposit Net Activity -
Month $ 533 $ 365 $ (110) $ 1,185
Total Deposit Net Activity -
YTD $ 898 $ 365 $ 7,193 $ 7,303
Federal Home Loan Bank
Borrowings $ 37,957 $ 37,958 $ 38,961 $ 38,615
Other Borrowings:
Reverse Repurchases 5,500 5,750 5,000 5,000
Bank Notes 3,153 2,653 2,394 2,024
Senior Debt 8,186 8,192 8,194 8,191
--------- --------- --------- ---------
Total Borrowings $ 54,796 $ 54,553 $ 54,549 $ 53,830
========= ========= ========= =========
Yield on Loan Portfolio 6.60% 6.49% 6.37% 6.27%
Yield on Interest-Earning
Investments 4.60 4.51 4.11 4.08
--------- --------- --------- ---------
Combined Yield on Interest-
Earning Assets 6.58% 6.47% 6.35% 6.22%
Cost of Savings 3.46% 3.36% 3.24% 3.14%
Cost of Federal Home Loan Bank
Borrowings 4.62 4.45 4.33 4.13
Cost of Other Borrowings 4.65 4.58 4.47 4.18
--------- --------- --------- ---------
Combined Cost of Funds 4.01% 3.89% 3.78% 3.62%
--------- --------- --------- ---------
Net Interest Rate Spread
(Primary Spread) 2.57% 2.58% 2.57% 2.60%
========= ========= ========= =========
Loans Sold $ 67 $ 52 $ 98 $ 160
Loan and MBS Repayments and
Payoffs - Month $ 2,681 $ 2,526 $ 3,371 $ 3,190
As a % of Prior Month Loan
Balance (Annualized) 26.88% 25.58% 34.40% 32.78%
Nonperforming Assets and
Troubled Debt Restructured as
a % of Total Assets .35% .33% .31% .31%
2005
-------------------------------------------------
OCT SEP AUG JUL JUN
--------- --------- --------- --------- ---------
Total Assets $123,422 $121,281 $119,621 $118,560 $117,486
Cash and Investments $ 2,913 $ 1,904 $ 1,376 $ 1,861 $ 1,984
Loans and MBS $117,587 $116,513 $115,461 $113,925 $112,746
Adjustable Rate
Mortgages and MBS $114,306 $113,375 $112,149 $110,864 $109,542
Loans Originated -
Month $ 4,277 $ 4,605 $ 4,822 $ 4,342 $ 4,825
Percentage ARMs -
Month 99% 99% 99% 99% 99%
Percentage
Refinances -
Month 80% 77% 77% 75% 74%
Loans Originated -
YTD $ 42,674 $ 38,397 $ 33,792 $ 28,970 $ 24,628
Percentage ARMs -
YTD 99% 99% 99% 99% 99%
Percentage
Refinances - YTD 77% 76% 76% 76% 76%
Total Deposits $ 59,083 $ 58,429 $ 58,582 $ 59,412 $ 59,226
Total Deposit Net
Activity - Month $ 654 $ (153) $ (830) $ 186 $ 1,525
Total Deposit Net
Activity - YTD $ 6,118 $ 5,464 $ 5,617 $ 6,447 $ 6,261
Federal Home Loan
Bank Borrowings $ 38,893 $ 38,897 $ 36,666 $ 36,259 $ 35,756
Other Borrowings:
Reverse
Repurchases 5,150 5,150 4,950 4,700 4,450
Bank Notes 2,163 2,489 2,950 1,925 2,233
Senior Debt 8,189 6,705 6,727 6,710 6,737
--------- --------- --------- --------- ---------
Total Borrowings $ 54,395 $ 53,241 $ 51,293 $ 49,594 $ 49,176
========= ========= ========= ========= =========
Yield on Loan
Portfolio 6.16% 6.04% 5.93% 5.79% 5.67%
Yield on Interest-
Earning Investments 4.07 3.93 3.61 3.34 3.41
--------- --------- --------- --------- ---------
Combined Yield on
Interest-Earning
Assets 6.12% 6.01% 5.91% 5.77% 5.64%
Cost of Savings 3.06% 2.97% 2.89% 2.78% 2.70%
Cost of Federal Home
Loan Bank
Borrowings 3.94 3.79 3.61 3.42 3.29
Cost of Other
Borrowings 4.07 3.93 3.68 3.58 3.47
--------- --------- --------- --------- ---------
Combined Cost of
Funds 3.50% 3.38% 3.24% 3.09% 2.99%
--------- --------- --------- --------- ---------
Net Interest Rate
Spread (Primary
Spread) 2.62% 2.63% 2.67% 2.68% 2.65%
========= ========= ========= ========= =========
Loans Sold $ 119 $ 84 $ 92 $ 50 $ 38
Loan and MBS
Repayments and
Payoffs - Month $ 3,183 $ 3,229 $ 3,397 $ 2,932 $ 3,065
As a % of Prior
Month Loan Balance
(Annualized) 33.01% 33.79% 36.02% 31.42% 33.33%
Nonperforming Assets
and Troubled Debt
Restructured as a %
of Total Assets .29% .28% .28% .28% .28%
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