Western Financial Savings Bank in Orange is...

Western Financial Savings Bank in Orange is offering short-term commercial paper--its own automobile loans and leases and high-yield corporate debt--for a $100-million line of credit. The borrowings, which are expected to begin today with a $5-million loan, will be used to help pay for the S&L;’s expanding operations while it waits to put out an offering for up to $200 million in securities, backed by its huge portfolio of automobile loans, said Stephen Prough, the S&L;’s president.