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The savings and loan crisis of the early 1990s eliminated the weaker thrifts, with many of the remaining converting from mutual to stock form. Shares are being offered at 65% or less of book value, first to employees, then to depositors, and then to the public. Thrift consolidation will continue over the next 3 to 5 years, with some of the better takeover targets being suitable investment selections.

Thrifts are expected to be entering a period of consolidation and acquisition in the next few years, which should influence stock prices up over the long run, and make for a healthier market. Government regulation has caused the enlargement of the industry, and deregulation will make for improved earnings for some, and consolidation of others. The industry's relative strength has declined tenfold since 1988, and investors should be cautious about acting too quickly.

Individuals should invest in the stocks of thrifts that have high financial strength and high safety ratings. The industry is currently in the midst of numerous acquisitions and consolidations. The volatility of interest rates during 1994 caused individuals to refinance homes and to purchase new homes. This activity has been beneficial for the thrift industry and further increases in interest rates will increase the economic wellbeing of the industry.

The thrift industry is expected to have continued earnings and stock price improvement as a result of several factors. Rising interest rates will improve earnings originating from adjustable rate mortgages. Consolidations will also help reduce administrative costs, which ultimately improve the bottom line. Investments in this industry should be concentrated on companies exhibiting good financial strength and high safety rankings.

Most thrift institutions did well during 1993, with profits and earnings rising, but the industry earnings are not expected to do as well during 1994. Many firms will consolidate and, as a consequence, stock prices will rise. After deregulation, many thrifts collapsed, and the government investigated many firms. The industry is now stronger, and buyers are purchasing thrifts that are in trouble to increase market share.

Thrift firms may make good investments during 1994, as interest rates reach a bottom low. The industry is undergoing consolidation, and the best investments will be in the most highly capitalized firms, which are the most likely to be taken over by other firms. Thrift companies have made a good adjustment to the changing demands of their customers, by offering annuities and mutual funds.

Stock prices for thrift industry companies have remained relatively flat in 1993 although a number of issues are still considered timely. Many thrifts have cleaned up their portfolios of bad loans yet problem assets remain for a number of institutions. Acquisitions of thrift companies are expected to increase, as purchasing has proven to be a quick way to build a large financial organization. Investors are advised to invest in thrift equities that have high capital ratios.

The analyst who recently took over A.G. Edwards & Sons Inc.'s coverage of Wachovia Corp. and Regions Financial Corp. cut his firm's ratings for the two Southeastern companies' shares and [...]

Golden West Financial Corp. overcame difficult mortgage lending conditions in the fourth quarter to beat Wall Street's earnings expectations with strong growth in interest income and fees. The $124.6 billion-asset [...]

The Oakland thrift company Golden West Financial Corp. said it added $186 million of deposits last month, 86% less than it added in June. The deposit base had grown by [...]

When the refinancing boom wound down in late 2003, several analysts said repeatedly that good times were ahead for Golden West Financial Corp., because of its focus on traditional adjustable-rate [...]

Golden West Financial Corp.'s second-quarter profits rose 16.2% from a year earlier, to $317 million, and its mortgage loan growth continued. The Oakland company, whose business mix is dominated by [...]

The strength of Golden West Financial's mortgage origination business helped it achieve record earnings in the second quarter of 2003. Diluted earnings per share for the quarter were up 22% [...]

Golden West Financial Corp. of Oakland, Calif., said Monday that second-quarter earnings rose 20% from a year earlier, to $272 million, amid record loan originations and deposit balances. Earnings per [...]

During a quarter in which margins narrowed across the industry, two West Coast thrift companies stood out for doing what seems be the near-impossible -- margin expansion. Washington Mutual Inc. [...]

Golden West Financial Corp.'s solid fourth quarter has prompted several analysts to raise their price targets for its stock, though rising or even stable rates could hurt the thrift company's [...]

Golden West Financial Corp. has announced diluted earnings per share for the first three months of 2002 of $1.51, up 37% from the $1.10 reported for the same period in [...]

On the tail end of the biggest refinancing wave in U.S. history, the country's three largest thrift companies reported earnings at or above consensus for the first quarter, but gave [...]

Why buy three when two will do? The question is one cost-conscious bank management teams confront all the time as they seek to root out redundancies in their organizations. Recently, [...]

The yearlong rally in thrift stocks, fueled by strong earnings increases, has given way to an equally sharp reversal as Wall Street wrestles with the expected effects of a steep [...]

Thomas O'Donnell, an equity analyst at Citigroup Inc.'s Salomon Smith Barney unit, raised his earnings expectations for several thrift companies and government-sponsored enterprises Thursday, and he said that investors can [...]

The effects of the Federal Reserve's three first-quarter interest rate cuts may have done little to stir life into capital markets businesses, but for three large West Coast thrifts the [...]

Golden West Financial Corp. announced Monday that its fourth-quarter earnings were $149.2 million, or 93 cents a share, up 27%. On the year, the adjustable-rate mortgage lender's diluted earnings per [...]

Financial stocks took a breather Tuesday as investors shifted their attention back to technology shares. Thrifts slipped from Monday's 52-week highs after Paine Webber Group downgraded Golden West Financial Corp. [...]

Golden West Financial Corp., the parent of World Savings Bank, boosted net income 16% in the third quarter but missed analysts' earnings. Net income of $137.4 million came to 86 [...]

Thrift stocks, led by Golden West Financial Corp., rallied Tuesday as optimism about the interest rate environment and strong earnings paced the group. Shares of Golden West, a $42 billion-asset [...]

Second-quarter loan originations at Golden West Financial Corp., the parent of World Savings Bank, rose 98% over the same period a year ago, to $5.7 billion. Originations for the first [...]

MCLEAN, VA--Freddie Mac has reported net income of $608 million for the first quarter of 2000, compared to $513 million during the same period last year. Earnings per share was [...]

Golden West Financial, parent of World Savings, Oakland, Calif., has reported earnings of $118,071 in the third quarter, up from $103,220 for the same period in 1998. Earnings were $2.14 [...]

OAKLAND, Calif. - Riding demand for adjustable-rate loans, Golden West Financial Corp. last week posted a 14% gain in third-quarter earnings, to $118 million. The parent of World Savings said [...]

Golden West has a host of favorable financial indicators, yet it's share price of 49 is near it's low point for the year, reflecting market concern for the future of its adjustable-rate mortgage interests.

The country's largest savings and loan associations reported first-quarter 1992 earning gains, but credit ratings of most continued to decline. Wide margins and special accounting gains account for the earnings increases. Statistics are included for H.F. Ahmanson and Co, Great Western Financial Corp, Golden West Financial Corp, CalFed Inc, HomeFed Corp, Dime Savings Bank of New York FSB, Standard Federal Savings Bank, FirstFed Michigan Corp and Coast Savings Financial Inc. However, GlenFed Inc reported losses of $106.7 million during the first quarter 1991., By TERESA CARSON LOS ANGELES -- Record spreads and special accounting gains helped drive up first-quarter earnings at the nation's biggest thrifts. But many, particularly in California, continue to suffer [...]

California Bank Profits Dive; Two Big Thrifts Fare Better Reflecting the strains of California's troubled commercial real estate market, Wells Fargo & Co. and Union Bank on Tuesday reported third-quarter [...]