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HOUSEHOLD BANK, FSB $200 MILLION SUBORDINATED DEBT SHELF RATED 'A-' BY FITCH -- FITCH FINANCIAL WIRE --

HOUSEHOLD BANK, FSB $200 MILLION SUBORDINATED DEBT SHELF RATED 'A-'
 BY FITCH -- FITCH FINANCIAL WIRE --
 NEW YORK, Oct. 9 /PRNewswire/ -- Household Bank, f.s.b.'s shelf registration for $200 million of subordinated debt securities is rated 'A-' by Fitch. The bank's 'A/F-1' certificates of deposit are affirmed. The credit trend is stable.
 Household Bank, headquartered in Newport Beach, Calif., has 159 branches in seven states, primarily in the Midwest. With $8.7 billion of assets, the bank attracts retail savings deposits and makes loans secured by residential real estate. Profitability and earnings have shown consistent improvement as acquisitions have been assimilated. The bank's $29.3 million of earnings in the first half of 1992 represents a satisfactory .68 percent return on assets. Capital is comfortably in excess of regulatory requirements, and Household Bank's maintenance of adequate regulatory capital is guaranteed by its affiliates, Household Finance Co. and Household International, Inc.
 Household Bank is an important element of the overall Household strategy in two ways. The bank's $6.4 billion of retail deposits is a cheap and stable funding source for the organization, and its customer base provides Household access to a broader, and more upscale, market segment.
 Household International's 'A' senior debt rating reflects its stabilizing asset quality and improved capital base. Though earnings have been dragged down by foreign business and commercial loan problems, the core consumer finance business remains very healthy and improved profitability is expected as the economy recovers.
 -0- 10/9/92
 /CONTACT: Nancy E. Stroker of Fitch, 212-908-0533/
 (HI) CO: Household Bank, f.s.b. ST: California IN: FIN SU: RTG


AH -- NY033 -- 8323 10/09/92 11:45 EDT
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Publication:PR Newswire
Date:Oct 9, 1992
Words:277
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