WFS Financial of Irvine Files to Make Public Stock Offer of 3.8 Million Shares

WFS Financial Inc., an Irvine auto finance subsidiary of Western Financial Savings Bank, said Monday that it has filed for an initial public offering of 3.8 million shares of stock worth between $45.9 million and $53.6 million. The stock, expected to be issued at $12 to $14 a share in mid-July, will represent about 16.9% of the company’s outstanding shares.

Western Financial is a unit of Westcorp, a $2.5-billion holding company that has 49 retail, mortgage banking and auto finance outlets in four states.