L.A. Now
Flooding, thunder and lightning are reported amid triple-digit heat

Topics

Brownsville
Maurice L. McAlister dies at 87; co-founder of Downey Savings & Loan
Maurice L. McAlister dies at 87; co-founder of Downey Savings & Loan

Maurice L. McAlister overcame a dirt-poor childhood in Texas to achieve prominence in two fields as a young man — first as a builder, then as the head of Downey Savings & Loan, which became a Southern California banking fixture for decades under his leadership. Despite his considerable wealth, the man everyone called Mac remained a down-home character, living mainly in Bullhead City, Ariz., where he could hunt quail and elk and fish for bass. He nurtured close family ties along with the business: One of his three daughters was on Downey's board and a son-in-law rose to chief executive. So McAlister was doubly stung late in life, family members said, when regulators...

Loading