Golden West Financial
Stock Symbol: GDW
1901 Harrison Street
Golden West Financial Industry:
Golden West Financial Description:
Golden West Financial Corporation is a holding company for its wholly owned, federally chartered savings bank subsidiary, World Savings Bank, FSB (WSB). WSB has a wholly owned subsidiary, World Savings Bank, FSB (WTX), a federally chartered savings bank. The Company, through its financial institution subsidiaries, operates 268 savings branches in nine states and 311 loan offices in 38 states, of which 110 loan offices are located in savings branches. The Company's primary source of revenue is interest from loans on residential real estate and mortgage-backed securities.
Golden West Financial Financial Summary:
For the nine months ended 30 September 2005, Golden West Financial total interest income rose 47% to $4.41B. Net interest income after loan loss provision rose 12% to $2.17B. Net income rose 16% to $1.09B. Net interest income reflects higher earning assets, partially offset by higher borrowing costs. Earnings reflect higher service charge income. GDW is a savings and loan holding company for the World Savings and Loan Association.
Golden West Financial Business Summary:
Golden West Financial Corporation (Golden West) is a savings and loan holding company, the principal business of which is the operation of a savings bank business through its wholly owned bank subsidiary, World Savings Bank, FSB (WSB). WSB has a wholly owned subsidiary, World Savings Bank, FSB (Texas) (WTX) that is also a federally chartered savings bank. As a residential mortgage portfolio lender, the Company's principal business, conducted through WSB and WTX, is attracting funds from the investing public and the capital markets and investing those funds principally in mortgage loans secured by residential real estate. During the year ended December 31, 2004, it operated 276 savings branches in 10 states and has lending operations in 38 states under the World name. Golden West has two non-bank subsidiaries, Atlas Advisers, Inc. and Atlas Securities, Inc. that provide advisory and distribution services to Atlas Funds, a registered investment company offering 16 no-load mutual funds.