BANKING & FINANCE - Aug. 10, 1993
From Times Staff and Wire Reports
Ahmanson Raises $287.5 Million: H.F. Ahmanson & Co., the Irwindale-based parent of Home Savings of America, announced that it raised the amount in its recent sale of convertible preferred stock, including the underwriters’ over-allotment. Ahmanson said proceeds from the sale will be used to boost capital and possibly finance an acquisition. Many financial institutions are selling convertible preferred stock to raise regulatory capital because the shares do not dilute the investment of current common stockholders. With $50 billion in assets and 367 branches, Ahmanson is the largest U.S. thrift.
