Orange County S&L; Scoreboard

Orange County’s 24 savings and loans posted $68 million in net income for the first quarter this year. The same thrifts posted a profit in last year’s first quarter, but the local industry then included several insolvent but still operating thrifts--such as Lincoln Savings & Loan in Irvine--that pushed overall earnings into the red by $92 million. At the end of March, half the thrifts met all federal capital requirements and also made a profit.

First quarter, 1991, results

Ranked by assets ASSETS (millions) Savings and Loan 1991 1990 American $16,782.9 $16,030.9 New West Federal (a) 7,575.3 8,880.0 Household Bank 7,551.2 7,217.2 Downey 4,131.0 4,049.8 FarWest (b) 3,071.3 4,166.1 Western Financial 3,063.3 2,899.0 Union Federal 2,285.3 2,386.8 Beverly Hills 1,357.5 1,501.0 ITT Federal 1,249.9 981.8 Guardian 682.1 615.9 United California 622.7 643.2 Fullerton 338.3 351.4 Standard Pacific 290.4 237.4 Universal 271.9 258.4 San Clemente 253.0 301.6 Plaza 196.1 73.1 Malibu (b) 126.2 168.1 Irvine City 102.8 78.5 Sterling 87.1 162.3 Beach (b) 75.8 99.2 Delta 73.8 59.2 University 72.8 78.6 Cornerstone 60.5 57.4 Pioneer 36.9 22.1 O.C. Totals 50,358.1 51,319.0

CAPITAL ADEQUACY (c) Tangible Core Risk-based Capital Capital Capital Savings and Loan %/Assets %/Assets %/Assets American 4.2% 4.2% 13.7% New West Federal (a) n/a n/a n/a Household Bank 3.6% 4.3% 9.6% Downey 5.5% 5.5% 11.5% FarWest (b) -5.5% -5.5% -5.7% Western Financial 3.8% 3.8% 8.7% Union Federal 4.2% 4.5% 6.8% Beverly Hills 7.9% 7.9% 35.8% ITT Federal 5.6% 5.6% 8.4% Guardian 2.8% 3.0% 4.5% United California 4.1% 4.1% 7.6% Fullerton 5.5% 5.5% 8.9% Standard Pacific 6.1% 6.1% 12.0% Universal 3.1% 3.8% 8.4% San Clemente 1.5% 2.0% 2.8% Plaza 4.5% 4.5% 8.1% Malibu (b) -4.8% -4.8% -6.4% Irvine City 3.7% 3.7% 8.6% Sterling 16.8% 16.8% 22.5% Beach (b) -1.5% -1.5% -2.6% Delta 4.1% 4.6% 6.8% University 3.1% 3.1% 6.0% Cornerstone 4.9% 4.9% 7.3% Pioneer 8.6% 8.6% 15.9% O.C. Totals 3.7% 3.8% 8.5%

NET INCOME (thousands) Savings and Loan 1991 1990 American $47,505 $43,961 New West Federal (a) 0 0 Household Bank 14,404 5,880 Downey 12,462 13,156 FarWest (b) (7,462) (25,805) Western Financial 3,467 2,669 Union Federal (12,888) 4,220 Beverly Hills 2,428 2,165 ITT Federal 3,542 3,059 Guardian 3,093 (4,846) United California 573 (550) Fullerton 385 517 Standard Pacific 500 151 Universal (86) 49 San Clemente (532) 348 Plaza 1,144 605 Malibu (b) (190) (614) Irvine City (64) 15 Sterling 30 1,396 Beach (b) (581) 428 Delta 173 116 University 29 21 Cornerstone 3 (46) Pioneer 66 (58) O.C. Totals 68,001 46,837

(a) Self-liquidating S&L; consisting of old American Savings & Loan’s bad assets.

(b) Seized and operated by regulators.

(c) Regulators require capital ratios of 1.5% tangible, 3% core, 7.2% risk-based.

Source: Office of Thrift Supervision