BNET Industries
Downey Financial Corp. (DSL) is in the Financial Services Industry
- Revenue
- Dec 31 2007
- $1.0B
- Profit
- Dec 31 2007
- ($56.5M)
- Market Cap
- Oct 09 2008
- $55.7M
Latest News and Analysis
Wachovia, National City Tumble on Bailout, WaMu
By Juan Lagorio and Jonathan StempelNEW YORK (Reuters) - Wachovia Corp WB and National City Corp NCC shares tumbled as talks on a $700 billion government bailout of the financial sector stalled and regulators seized Washington Mutual Inc WM.Investors fear a collapse of bailout talks could prolong the freeze in...
Wachovia, National City Shares Tumble on Bailout, WaMu
By Juan Lagorio and Jonathan StempelNEW YORK (Reuters) - Shares of Wachovia Corp WB and National City Corp NCC tumbled on worries about heavy mortgage losses, as talks on a $700 billion financial sector bailout bogged down and regulators seized Washington Mutual Inc WM in the largest bank failure in...
The Option Arm Triplets: Dead Banks Walking
Greg Weston submits: I am continually surprised that people are willing to hold, at any price, the common stock of regional Option-ARM mortgage disasters Downey Financial DSL, BankUnited Financial Corporation BKUNA, and FirstFed Financial FED. They are dead banks walking. The big investment banks, money center banks, insurance companies, and...
10 Financial Entities On the Brink
Michael Shedlock submits: Clearly Lehman LEH is on the brink of disaster. On Wednesday, the Financial Times was reporting Lehman’s secret talks to sell 50% stake stall. by Michael Shedlock
Why Downey Financial is Not IndyMac
Christopher Whalen submits: The IRA is on the road part of this week in Oslo for our talk on Monday, "Do OTC Credit Derivatives Increase or Reduce Risk?" But we wanted to comment on Downey Financial (NASDAQ:DSL) before we head to EWR. We've been getting lots...
Another Leg Down for Financials Is Coming
Colin Peterson submits: I think there will be at least one more big leg down. I see numerous potential catalysts; here are two:CFC or the creditors file a BK petitionbank failures, e.g. VNBC, BKUNA, and DSL Check out the deterioration in the enormous CFC option-ARM portfolio. (Calculated Risk did...
Additional Resources
Downey Names Charles R. Rinehart Chief Executive Officer
NEWPORT BEACH, Calif., Sept. 22 /PRNewswire-FirstCall/ -- Downey Financial Corp. today announced that Charles R. Rinehart, 61, has been appointed as Chief Executive Officer of the Company and Downey Savings and Loan Association, F.A., effective September 23,2008. Mr. Rinehart has also been appointed to the Board of...
Stocks on the Move: Citigroup, Wachovia, AIG, Goldman Sachs
The following companies are having unusual price changes in U.S. trading. Stock symbols are in parentheses, and share prices are as of 11:40 a.m. in New York. Financial companies jumped after the U.S. Treasury and Federal Reserve announced efforts to halt the credit-market seizure and British...
Downey Financial Corp. Announces Thirteen Month Selected Financial Data
NEWPORT BEACH, Calif., Sept. 18 /PRNewswire-FirstCall/ -- Downey Financial Corp. today released monthly selected financial data for the thirteen months ended August 31, 2008. Downey Financial Corp. is the parent company of Downey Savings and Loan Association, F.A., with assets of $13.9 billion and 169 branches...
Paul M. Homan Appointed to Downey Financial Board of Directors
New Director Brings Extensive Banking, Turnaround and Regulatory Experience NEWPORT BEACH, Calif., Aug. 21 /PRNewswire-FirstCall/ -- Downey Financial Corp. ("Downey") today announced it has appointed Paul M. Homan to the Boards of Directors of Downey and Downey Savings and Loan Association, F.A. Mr. Homan's appointment...
Downey Financial Corp. Announces Thirteen Month Selected Financial Data
NEWPORT BEACH, Calif., Aug. 15 /PRNewswire-FirstCall/ -- Downey Financial Corp. today released monthly selected financial data for the thirteen months ended July 31, 2008. Although, as previously reported, Downey experienced elevated levels of deposit withdrawals in July, deposit flows so far in August have stabilized. In...
Once strong Downey Savings facing failure
Downey's Prospects Dismal: Downey Savings and Loan, based in Newport Beach and with five branches in the county, could be the next savings bank to fail. On July 25, Moody's Investors Service downgraded the thrift a notch from D+ to D. That leaves two notches in Moody's rating...
Real Estate-Related Companies Down by $1.8B
FINANCE: Downey, Grubb & Ellis, First American see tough road ahead The real estate and mortgage slump has made it a year to forget for stockholders of Downey Financial Corp., First American Corp. and Grubb & Ellis Co. And there are signs there's still plenty of...
EXECUTIVE SUMMARY
This past week's news from www.ocbj.com and other sources TOP STRORIES Newport Beach-based savings and loan operator Downey Financial Corp. reported a big second-quarter loss, hired an investment bank to consider its options and saw longtime chairman Maurice L. McAlister step aside. The company reported a $218.9 million...
Downey Announces Board and Management Changes
Thomas E. Prince Appointed Interim CEO to Succeed Daniel D. Rosenthal Michael D. Bozarth and Gary W. Brummett Appointed Chairman and Vice Chairman, Respectively, Following Retirement of Founder Maurice L. McAlister NEWPORT BEACH, Calif., July 24 /PRNewswire-FirstCall/ -- Downey Financial Corp. ("Downey" or "the...
Downey Announces Second Quarter 2008 Results
NEWPORT BEACH, Calif., July 24 /PRNewswire-FirstCall/ -- Downey Financial Corp. reported a net loss for second quarter 2008 of $218.9 million or $7.86 per share on a diluted basis, compared with net income of $32.7 million or $1.17 on a diluted basis per share in the year-ago second...
Downey Financial Corp. Declares Quarterly Dividend
NEWPORT BEACH, Calif., July 23 /PRNewswire-FirstCall/ -- Downey Financial Corp. announced today that the Board of Directors declared a quarterly cash dividend of $0.01 per share payable on August 21, 2008, to shareholders of record on August 7, 2008. Downey Financial Corp., with assets of $12.6...
Stull, Stull & Brody Announces Class Action on Behalf of Shareholders of Downey Financial Corporation
Attorney Advertising. Notice is hereby giventhat a class action has been commenced in the United States District Courtfor the Central District of California on behalf of purchasers of thecommon stock of Downey Financial Corporation ("Downey" or the "Company")(NYSE: DSL) between October 16, 2006 and March 14, 2008 (the...
EXECUTIVE SUMMARY
This post week's news from www.ocbj.com and other sources TOP STORIES Broadcom Corp. cofounder and former chief executive Henry Nicholas was indicted on federal charges related to the backdating of stock options at the chipmaker and suspicion of violating drug laws. The widely expected indictments charge Nicholas...
Holzer Holzer & Fistel, LLC Announces That a Shareholder Class Action Has Been Filed Against Downey Financial Corporation (NYSE: DSL)
A shareholder class action lawsuit has beenfiled in the United States District Court for the Central District ofCalifornia against Downey Financial Corporation ("Downey " or the"Company") (NYSE: DSL) and certain of its officers and directors on behalfof purchasers of Downey common stock, who purchased or sold between October16, 2006 and...
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- Incorporated: 1994
- CEO: Mr. Charles R. Rinehart
- Employees: 1,850
Downey Financial is a bank-holding company. Through its Downey Savings and Loan Association subsidiary, Co. operated 172 retail deposit branches, including 90 full-service, in-store branches at Dec 31 2007. Co. has two segments: banking, which accepts funds from the general public and institutions and originates and invests in loans, primarily residential real estate mortgage loans, mortgage-backed securities and investment securities; and real estate investment, which participates in real estate development projects, principally retail neighborhood shopping center and residential developments. At Dec 31 2007, Co. had total assets of $13.41 billion and total deposits of $10.50 billion.
Key Competitors
Downey Financial Corp. Company Info
Board of Directors
Mr. Michael D. Bozarth
Chairman
Mr. Charles R. Rinehart
Mr. Gary W. Brummett
Vice-Chairman
Mr. Thomas E. Prince
Mr. Michael B. Abrahams
Mr. Paul M. Homan
Mr. Brent McQuarrie
Mr. Lester C. Smull
Mr. James H. Hunter
Ms. Jane Wolfe
Contact Information
3501 Jamboree Road
Newport Beach, CA
949 854-0300
NAICS Code
Savings Institutions: 522120Brought to you by IBM
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