L.A. County-based savings & loan associations: ranked by assets as of June 30, 2004.EXECUTIVE SUMMARY THE number of savings and loans savings and loan n. a banking and lending institution, chartered either by a state or the Federal government. Savings and loans only make loans secured by real property from deposits, upon which they pay interest slightly higher than that paid by most banks. headquartered in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. County has been cut to 11, and will be even lower next year. Just before the June June: see month. 30 end of the reporting period upon which the rankings are based, Hawthorne Hawthorne. 1 City (1990 pop. 71,349), Los Angeles co., S Calif., a suburb of Los Angeles; inc. 1922. Located in an oil- and gas-producing area, Hawthorne manufactures navigation systems, solar panels, electronic components, silicon instruments, and Savings, No. 4 last year, was acquired by Commercial Capital Bank of Irvine Irvine, town, Scotland Irvine (ûr`vĭn), town (1991 pop. 32,507), North Ayrshire, SW Scotland, on the Irvine River estuary. Industries include iron and brass foundries. Other products are chemicals, electric goods, and clothing. . In August, Trust Bank, No. 11 this year, was acquired by East-West Bank of San Marino San Marino, city, United States San Marino (săn mərē`nō), residential city (1990 pop. 12,959), Los Angeles co., S Calif.; inc. 1913. Of interest is the Huntington Library, Art Collections, and Botanical Gardens. and will fall off next year's rankings. Thrifts on this year's list saw a $7 billion increase in assets from 2003, representing 30.4 percent growth. Deposits increased by $2 billion, or 16.5 percent, to $14 billion. Trust Bank was the only institution to see a slight decline in assets or deposits over the past year. First Bank of Beverly Hills Beverly Hills, city (1990 pop. 31,971), Los Angeles co., S Calif., completely surrounded by the city of Los Angeles; inc. 1914. The largely residential city is home to many motion-picture and television personalities. , No. 5 on this year's list, saw the biggest increase in assets and moved ahead of Standard 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. . The thrift thrift: see leadwort. recorded the largest total increase in assets, up $440 million or 57.2 percent. Broadway Broadway, famous thoroughfare in New York City. It extends from Bowling Green near the foot of Manhattan island N to 262d St. in the Bronx. Throughout its length Broadway is chiefly a commercial street. Federal Bank moved to No. 10 from No. 12 following a 17.1 percent increase in assets and a slight decrease in assets by No. 11 Trust Bank. THE PACESETTER INDYMAC BANK Indymac Bancorp, Inc. (NYSE: IMB) (Indymac®) is the holding company for Indymac Bank, F.S.B. (Indymac Bank®), the largest savings and loan in Los Angeles and the 7th largest mortgage originator in the nation. WITH nearly; three times the assets of its closest competitor, IndyMac Bank is by far the largest savings and loan association savings and loan association, type of financial institution that was originally created to accept savings from private investors and to provide home mortgage services for the public. The first U.S. savings and loan association was founded in 1831. headquartered in Los Angeles County. It tops the list lot the fifth consecutive year. In 2003, IndyMac increased its asset base by $4.3 billion over 2002, a 40.7 percent increase. Deposits rose by 24.1 percent to $4.9 billion. Michael Perry The name Michael Perry may mean:
Perry attributes IndyMac's success to the refinance Refinance 1. When a business or person revises their payment schedule for repaying debt. 2. Replacing an older loan with a new loan offering better terms. Notes: When a business refinances they typically extend the maturity date. and home mortgage boom led by low interest rates. "It was a $3.8 trillion One thousand times one billion, which is 1, followed by 12 zeros, or 10 to the 12th power. See space/time. (mathematics) trillion - In Britain, France, and Germany, 10^18 or a million cubed. In the USA and Canada, 10^12. industry last yearm but will shrink shrink Vox populi noun A psychiatrist to an estimated $2 trillion next year," said Perry. "The biggest challenge will be to adjust from a refinance boom to a more normal mortgage market." Locally, IndyMac plans to expand its thrift business. Originally a real estate investment trust, IndyMac became a savings and loan in 2000 when it acquired First Federal Savings and Loan Association Federal Savings and Loan Association An institution chartered by the federal government whose primary function is to collect savings deposits and to provide mortgage loans. of San Gabriel Valley The San Gabriel Valley is one of the principal valleys of southern California. It lies to the east of the city of Los Angeles, to the north of the Puente Hills, to the south of the San Gabriel Mountains, and to the west of the Inland Empire. . It inherited inherited received by inheritance. inherited achondroplastic dwarfism see achondroplastic dwarfism. inherited combined immunodeficiency see combined immune deficiency syndrome (disease). nine branches, and plans to expand its network in Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, to 40 to 50 branches. IndyMac recently purchased Irvine-based Financial Freedom, making it the largest reverse-mortgage lender LENDER, contracts. He from whom a thing is borrowed. 2. The contract of loan confers rights, and imposes duties on the lender. 1. The lender has the right to revoke the loan at his mere pleasure; 9 Cowen, R. 687; 8 Johns. Rep. 432; 1 T. R. 480; 2 Campb. Rep. in the country'. Reverse mortgages are for people age 62 or older who want to draw equity from their home. The money is paid back when they die. Perry said the market is evolving, and he expects the purchase to be successful.
In millions
Rank Savings & Loan (year Assets
established) (Ranking in 2003)
* name * as of June 30, 2004
* address * as of June 30, 2003
* % increase (decrease)
1 IndyMac Bank (1936) (1) $14,931.4
155 N. Lake Ave. $10,611
Pasadena 91101 40.7%
2 First Federal Bank of 5,538.3
California (1929) (2)
401 Wilshire Blvd. 4,462.1
Santa Monica 90401 24.1
3 PFF Bank & Trust (1892) (3) 3,608.1
350 S. Garey Ave. 3,087.3
Pomona 91766 16.9
4 Quaker City Bank (1920) (5) 1,871.5
7021 Greenleaf Ave. 1,623
Whittier 90608 15.3
5 First Bank of Beverly Hills 1,210.3
(1979) (7)
23901 Calabasas Road, Suite 769.9
1050 Calabasas 91302 57.2
6 Standard Savings Bank 985
(1980) (6)
228 W. Garvey Ave. 933.4
Monterey Park 91754 5.5
7 Kaiser Federal Bank (1953) (8) 557.1
1359 N. Grand Ave. 433.6
Covina 91724 28.5
8 Malaga Bank (1985) (9) 484.9
2514 Via Tejon 353.5
Palos Verdes Peninsula 90274 37.2
9 Universal Bank (1954) (10) 407.6
3455 Nogales St., Suite 343.3
1050 West Covina 91792 18.7
10 Broadway Federal Bank 253.3
(1947) (12)
10 4800 Wilshire Blvd. 216.3
Los Angeles 90010 17.1
11 Trust Bank (4) (1977) (11) 229
638 S. Atlantic Blvd. 234.1
Monterey Park 91754 -2.2
In millions
Savings & Loan (year Deposits
established) (Ranking in 2003)
* name * as of June 30, 2004
* address * as of June 30, 2003
* % increase (decrease)
IndyMac Bank (1936) (1) $4,933.7
155 N. Lake Ave. $3,976.1
Pasadena 91101 24.1%
First Federal Bank of 2,796.9
California (1929) (2)
401 Wilshire Blvd. 2,485.7
Santa Monica 90401 12.5
PFF Bank & Trust (1892) (3) 2,514.6
350 S. Garey Ave. 2,349
Pomona 91766 7
Quaker City Bank (1920) (5) 1,156.9
7021 Greenleaf Ave. 1,096.6
Whittier 90608 5.5
First Bank of Beverly Hills 636.9
(1979) (7)
23901 Calabasas Road, Suite 356.1
1050 Calabasas 91302 78.8
Standard Savings Bank 784.3
(1980) (6)
228 W. Garvey Ave. 731.4
Monterey Park 91754 7.2
Kaiser Federal Bank (1953) (8) 418.8
1359 N. Grand Ave. 346.3
Covina 91724 20.9
Malaga Bank (1985) (9) 264
2514 Via Tejon 226.1
Palos Verdes Peninsula 90274 16.8
Universal Bank (1954) (10) 309.4
3455 Nogales St., Suite 254.3
1050 West Covina 91792 21.7
Broadway Federal Bank 186.3
(1947) (12)
10 4800 Wilshire Blvd. 165.2
Los Angeles 90010 12.8
Trust Bank (4) (1977) (11) 187.2
638 S. Atlantic Blvd. 190.4
Monterey Park 91754 -1.7
In millions
Savings & Loan (year Net Income
established) (Ranking in 2003)
* name * Jan. 1-June 30, 2004
* address * Jan. 1-June 30, 2003
* % increase (decrease)
IndyMac Bank (1936) (1) $70.2
155 N. Lake Ave. $82.2
Pasadena 91101 -14.6%
First Federal Bank of 31.7
California (1929) (2)
401 Wilshire Blvd. 31.2
Santa Monica 90401 1.6
PFF Bank & Trust (1892) (3) 21
350 S. Garey Ave. 19.1
Pomona 91766 9.4
Quaker City Bank (1920) (5) 10.2
7021 Greenleaf Ave. 11.5
Whittier 90608 -11.8
First Bank of Beverly Hills 5.8
(1979) (7)
23901 Calabasas Road, Suite 3.3
1050 Calabasas 91302 72.8
Standard Savings Bank 5.2
(1980) (6)
228 W. Garvey Ave. 5.3
Monterey Park 91754 -0.9
Kaiser Federal Bank (1953) (8) 1.7
1359 N. Grand Ave. 1.2
Covina 91724 42.8
Malaga Bank (1985) (9) 2.7
2514 Via Tejon 2.5
Palos Verdes Peninsula 90274 9.1
Universal Bank (1954) (10) 2.6
3455 Nogales St., Suite 1.8
1050 West Covina 91792 41.9
Broadway Federal Bank 1.1
(1947) (12)
10 4800 Wilshire Blvd. 0.8
Los Angeles 90010 26.4
Trust Bank (4) (1977) (11) 0.9
638 S. Atlantic Blvd. 0.8
Monterey Park 91754 12.5
Savings & Loan (year Capital
established) (Ranking in 2003) Rating (1)
* name
* address
IndyMac Bank (1936) (1) ****
155 N. Lake Ave.
Pasadena 91101
First Federal Bank of *****
California (1929) (2)
401 Wilshire Blvd.
Santa Monica 90401
PFF Bank & Trust (1892) (3) ****
350 S. Garey Ave.
Pomona 91766
Quaker City Bank (1920) (5) *****
7021 Greenleaf Ave.
Whittier 90608
First Bank of Beverly Hills ****
(1979) (7)
23901 Calabasas Road, Suite
1050 Calabasas 91302
Standard Savings Bank *****
(1980) (6)
228 W. Garvey Ave.
Monterey Park 91754
Kaiser Federal Bank (1953) (8) *****
1359 N. Grand Ave.
Covina 91724
Malaga Bank (1985) (9) *****
2514 Via Tejon
Palos Verdes Peninsula 90274
Universal Bank (1954) (10) *****
3455 Nogales St., Suite
1050 West Covina 91792
Broadway Federal Bank ****
(1947) (12)
10 4800 Wilshire Blvd.
Los Angeles 90010
Trust Bank (4) (1977) (11) ****
638 S. Atlantic Blvd.
Monterey Park 91754
Savings & Loan (year Capital Ratios
established) (Ranking in 2003)
* name * tier one (2)
* address * total risk-based (3)
IndyMac Bank (1936) (1) 12.5%
155 N. Lake Ave. 13.1%
Pasadena 91101
First Federal Bank of 13.3
California (1929) (2)
401 Wilshire Blvd. 14.6
Santa Monica 90401
PFF Bank & Trust (1892) (3) 10.2
350 S. Garey Ave. 11.2
Pomona 91766
Quaker City Bank (1920) (5) 11.5
7021 Greenleaf Ave. 12.4
Whittier 90608
First Bank of Beverly Hills 10.2
(1979) (7)
23901 Calabasas Road, Suite 10.9
1050 Calabasas 91302
Standard Savings Bank 14
(1980) (6)
228 W. Garvey Ave. 14.5
Monterey Park 91754
Kaiser Federal Bank (1953) (8) 18
1359 N. Grand Ave. 18.6
Covina 91724
Malaga Bank (1985) (9) 12.4
2514 Via Tejon 13.1
Palos Verdes Peninsula 90274
Universal Bank (1954) (10) 11.2
3455 Nogales St., Suite 12.2
1050 West Covina 91792
Broadway Federal Bank 9.9
(1947) (12)
10 4800 Wilshire Blvd. 10.6
Los Angeles 90010
Trust Bank (4) (1977) (11) 10.4
638 S. Atlantic Blvd. 11.3
Monterey Park 91754
Savings & Loan (year Non-Current
established) (Ranking in 2003) Ratio
* name * % of total assets
* address * % of total loans
IndyMac Bank (1936) (1) 0.7%
155 N. Lake Ave. 0.8%
Pasadena 91101
First Federal Bank of 0
California (1929) (2)
401 Wilshire Blvd. 0
Santa Monica 90401
PFF Bank & Trust (1892) (3) 0.3
350 S. Garey Ave. 0.3
Pomona 91766
Quaker City Bank (1920) (5) 0.2
7021 Greenleaf Ave. 0.3
Whittier 90608
First Bank of Beverly Hills 0.3
(1979) (7)
23901 Calabasas Road, Suite 0.2
1050 Calabasas 91302
Standard Savings Bank 0.4
(1980) (6)
228 W. Garvey Ave. 0.5
Monterey Park 91754
Kaiser Federal Bank (1953) (8) 0
1359 N. Grand Ave. 0
Covina 91724
Malaga Bank (1985) (9) 0
2514 Via Tejon 0
Palos Verdes Peninsula 90274
Universal Bank (1954) (10) 0.6
3455 Nogales St., Suite 0.6
1050 West Covina 91792
Broadway Federal Bank 0
(1947) (12)
10 4800 Wilshire Blvd. 0
Los Angeles 90010
Trust Bank (4) (1977) (11) 0
638 S. Atlantic Blvd. 0
Monterey Park 91754
Savings & Loan (year Returns
established) (Ranking in 2003) (6 mos. ended 6/30/04)
* name * on average assets
* address * on average equity
IndyMac Bank (1936) (1) 1%
155 N. Lake Ave. 12.7%
Pasadena 91101
First Federal Bank of 1.2
California (1929) (2)
401 Wilshire Blvd. 15
Santa Monica 90401
PFF Bank & Trust (1892) (3) 1.2
350 S. Garey Ave. 15.1
Pomona 91766
Quaker City Bank (1920) (5) 1.1
7021 Greenleaf Ave. 14.1
Whittier 90608
First Bank of Beverly Hills 1.1
(1979) (7)
23901 Calabasas Road, Suite 13.2
1050 Calabasas 91302
Standard Savings Bank 1.1
(1980) (6)
228 W. Garvey Ave. 11.3
Monterey Park 91754
Kaiser Federal Bank (1953) (8) 0.5
1359 N. Grand Ave. 6.5
Covina 91724
Malaga Bank (1985) (9) 1.2
2514 Via Tejon 14.9
Palos Verdes Peninsula 90274
Universal Bank (1954) (10) 1.4
3455 Nogales St., Suite 13.5
1050 West Covina 91792
Broadway Federal Bank 0.9
(1947) (12)
10 4800 Wilshire Blvd. 11.9
Los Angeles 90010
Trust Bank (4) (1977) (11) 0.7
638 S. Atlantic Blvd. 9.6
Monterey Park 91754
Savings & Loan (year Top Local Executive
established) (Ranking in 2003)
* name * name
* address * title
* phone
IndyMac Bank (1936) (1) Michael W. Perry
155 N. Lake Ave. chairman, ceo
Pasadena 91101 (626) 535-5901
First Federal Bank of Babette E. Heimbuch
California (1929) (2)
401 Wilshire Blvd. chairwoman, ceo
Santa Monica 90401 (310) 319-6000
PFF Bank & Trust (1892) (3) Larry M. Rinehart
350 S. Garey Ave. ceo, president
Pomona 91766 (909) 623-6517
Quaker City Bank (1920) (5) Rick McGill
7021 Greenleaf Ave. ceo, president
Whittier 90608 (562) 907-2200
First Bank of Beverly Hills Joseph W. Kiley III
(1979) (7)
23901 Calabasas Road, Suite ceo, president
1050 Calabasas 91302 (800) 515-1616
Standard Savings Bank John M. Lee
(1980) (6)
228 W. Garvey Ave. president
Monterey Park 91754 (626) 280-6448
Kaiser Federal Bank (1953) (8) Kay M. Hoveland
1359 N. Grand Ave. ceo, president
Covina 91724 (626) 339-9663
Malaga Bank (1985) (9) John R. Polen
2514 Via Tejon ceo, president
Palos Verdes Peninsula 90274 (310) 375-9000
Universal Bank (1954) (10) Frank Chang
3455 Nogales St., Suite ceo
1050 West Covina 91792 (626) 854-2818
Broadway Federal Bank Paul C. Hudson
(1947) (12)
10 4800 Wilshire Blvd. ceo, president
Los Angeles 90010 (323) 634-1700
Trust Bank (4) (1977) (11) Jae Whan Yoo
638 S. Atlantic Blvd. ceo, president
Monterey Park 91754 (626) 576-8800
(1) Bauer Financial Reports Inc. proprietary ratings classify each
institution based upon a formula which factors in relevant data
including, but not limited to, current capital levels, proposed
regulations, profitability, historical trends, loan delinquencies,
repossessed assets, reserves, regulatory compliance and asset quality.
Ratings are based on March 31, 2004 data.
***** Superior.
**** Excellent.
***+ Good.
*** Adequate.
(2) Core (Tier 1) capital as a percent of average total assets minus
ineligible tangibles.
(3) Total risk based capital as a percent of risk-weighted assets.
(4) Trust Bank merged into East-West Bank on Aug. 6, 2004.
Note: The financial information on this list was provided by the FDIC.
S&Ls are ranked by their assets as of June 30, 2004. A S&L's ranking
does not reflect its relative strength within the industry. The core
capital ratios and non-performance asset ratios can be used as
indicators of an institution's financial security. Hawthorne Savings,
No. 4 on this list last year merged into Commercial Capital Bank on
June 5, 2004.
To the best of our knowledge, this information is accurate as of press
time. While every effort is made to ensure the accuracy and
thoroughness of the list, omissions and typographical errors sometimes
occur. Please send corrections or additions on company letterhead to
the Research Department, Los Angeles Business Journal, 5700 Wilshire
Blvd., Suite 170, Los Angeles 90036. [C] 2004 Los Angeles Business
Journal. This list may not be reprinted in whole or in part without
permission prior written from the editor. Reprints are available from
Wright's Reprints, (877) 652-5295.
Researched by David Nusbaum
|
|
||||||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion