Jim:
WAMU just completed its acquisition of AH Ahmanson:
Washington Mutual, Inc. (Nasdaq:WAMU - news) today announced the completion of its merger with the Irwindale, Calif.-based H.F. Ahmanson & Company (NYSE:AHM - news).
The merger will be effective at 2 p.m. Pacific Daylight Time. The merger with Ahmanson further solidifies Washington Mutual's position as the nation's largest savings institution with $156.2 billion in assets, based on June 30, 1998, figures. In addition, the company now serves approximately 5.6 million households from more than 2,000 retail banking branches, mortgage loan offices, consumer finance offices and commercial bank branches. The merger also adds another state -- Texas -- to Washington Mutual's consumer banking operations. In Texas, Washington Mutual now has 45 branches in the Dallas/Ft. Worth and Houston areas.
No idea why WAMU was downgraded. Perhaps due to overall concern about financial institutions regardless of international exposure. I'm not aware of any exposure with respect to the company's loan portfolio, but will ask my friend if she's aware of any problems.
BTW, have you checked SIII lately? Well on its way to being a penny stock.
Take care. |
