EX-99.2 3 a4683554ex992.txt JUNE 2004 13-MONTH STATISTICAL DATA PRESS RELEASE EXHIBIT 99.2 Golden West Financial Releases Thirteen Month Statistical Data OAKLAND, Calif.--(BUSINESS WIRE)--July 20, 2004--Golden West Financial Corporation (NYSE:GDW), parent of World Savings Bank, today released statistical data for the thirteen months ended June 30, 2004. Headquartered in Oakland, California, Golden West is one of the nation's largest financial institutions with assets over $90 billion as of June 30, 2004. The Company has one of the most extensive thrift branch systems in the country, with 274 savings branches in 10 states and lending operations in 38 states. Golden West's stock is listed on the New York Stock and Pacific Exchanges under the ticker symbol GDW. Golden West investor information is available at www.gdw.com. GOLDEN WEST FINANCIAL CORPORATION AND SUBSIDIARIES MONTHLY FINANCIAL HIGHLIGHTS June 2003 - June 2004 (Dollars in millions) 2004 ------------------------------------ JUN MAY APR MAR -------- -------- -------- -------- Total Assets $93,158 $90,336 $88,499 $86,605 Cash and Investments $1,836 $1,706 $1,688 $1,372 Loans and MBS $89,094 $86,437 $84,664 $83,079 Adjustable Rate Mortgages and MBS $85,732 $83,278 $81,549 $79,890 Loans Originated - Month $4,791 $3,853 $3,795 $3,839 Percentage ARMs - Month 99% 98% 98% 98% Percentage Refinances - Month 69% 72% 73% 72% Loans Originated - YTD $21,833 $17,042 $13,189 $9,394 Percentage ARMs - YTD 98% 98% 98% 98% Percentage Refinances - YTD 72% 72% 73% 72% Total Deposits $48,611 $47,844 $47,353 $47,384 Total Deposit Net Activity - Month $767 $491 $(31) $253 Total Deposit Net Activity - YTD $1,884 $1,117 $626 $657 Federal Home Loan Bank Borrowings $28,712 $27,210 $26,214 $24,806 Other Borrowings: Reverse Repurchases 3,471 2,872 3,072 2,672 Federal Funds Purchased 0 0 0 0 Bank Notes 1,787 2,865 2,500 2,505 Senior Debt 2,990 1,990 1,990 1,990 Subordinated Notes 0 0 0 0 -------- -------- -------- -------- Total Borrowings $36,960 $34,937 $33,776 $31,973 ======== ======== ======== ======== Yield on Loan Portfolio 4.50% 4.52% 4.55% 4.58% Yield on Interest-Earning Investments 1.35 1.04 1.05 1.05 -------- -------- -------- -------- Combined Yield on Interest- Earning Assets 4.46% 4.47% 4.51% 4.55% Cost of Deposits 1.88% 1.85% 1.85% 1.85% Cost of Federal Home Loan Bank Borrowings 1.35 1.24 1.22 1.23 Cost of Other Borrowings 1.73 1.61 1.61 1.64 -------- -------- -------- -------- Combined Cost of Funds 1.69% 1.63% 1.62% 1.63% -------- -------- -------- -------- Net Interest Rate Spread (Primary Spread) 2.77% 2.84% 2.89% 2.92% ======== ======== ======== ======== Loans Sold $79 $81 $64 $51 Loan and MBS Repayments and Payoffs - Month $2,308 $2,090 $2,099 $1,949 As a % of Prior Month Loan Balances (Annualized) 32.18% 29.62% 30.32% 28.87% Nonperforming Assets and Troubled Debt Restructured as a % of Total Assets .41% .44% .45% .48% 2004 2003 ----------------- -------- FEB JAN DEC -------- -------- -------- Total Assets $84,945 $82,910 $82,550 Cash and Investments $1,839 $1,216 $2,140 Loans and MBS $81,003 $79,600 $78,311 Adjustable Rate Mortgages and MBS $78,042 $76,769 $75,239 Loans Originated - Month $2,690 $2,865 $3,761 Percentage ARMs - Month 98% 98% 98% Percentage Refinances - Month 74% 71% 71% Loans Originated - YTD $5,555 $2,865 $35,985 Percentage ARMs - YTD 98% 98% 94% Percentage Refinances - YTD 72% 71% 70% Total Deposits $47,131 $46,875 $46,727 Total Deposit Net Activity - Month $256 $148 $238 Total Deposit Net Activity - YTD $404 $148 $5,688 Federal Home Loan Bank Borrowings $24,110 $22,008 $22,000 Other Borrowings: Reverse Repurchases 1,971 2,571 3,021 Federal Funds Purchased 0 0 0 Bank Notes 3,509 3,413 3,016 Senior Debt 992 991 991 Subordinated Notes 0 0 0 -------- -------- -------- Total Borrowings $30,582 $28,983 $29,028 ======== ======== ======== Yield on Loan Portfolio 4.61% 4.60% 4.61% Yield on Interest-Earning Investments 1.05 1.04 .93 -------- -------- -------- Combined Yield on Interest-Earning Assets 4.56% 4.57% 4.54% Cost of Deposits 1.85% 1.85% 1.85% Cost of Federal Home Loan Bank Borrowings 1.25 1.28 1.28 Cost of Other Borrowings 1.68 1.66 1.66 -------- -------- -------- Combined Cost of Funds 1.65% 1.67% 1.67% -------- -------- -------- Net Interest Rate Spread (Primary Spread) 2.91% 2.90% 2.87% ======== ======== ======== Loans Sold $31 $50 $113 Loan and MBS Repayments and Payoffs - Month $1,401 $1,323 $1,717 As a % of Prior Month Loan Balances (Annualized) 21.13% 20.28% 27.02% Nonperforming Assets and Troubled Debt Restructured as a % of Total Assets .52% .52% .51% GOLDEN WEST FINANCIAL CORPORATION AND SUBSIDIARIES MONTHLY FINANCIAL HIGHLIGHTS June 2003 - June 2004 (Dollars in millions) 2003 --------------------------- NOV OCT SEP -------- -------- -------- Total Assets $79,661 $77,748 $76,158 Cash and Investments $1,285 $1,045 $1,169 Loans and MBS $76,272 $74,645 $72,949 Adjustable Rate Mortgages and MBS $73,222 $71,521 $69,528 Loans Originated - Month $3,276 $3,869 $3,698 Percentage ARMs - Month 98% 98% 97% Percentage Refinances - Month 70% 69% 67% Loans Originated - YTD $32,224 $28,948 $25,079 Percentage ARMs - YTD 93% 92% 92% Percentage Refinances - YTD 70% 70% 71% Total Deposits $46,489 $46,434 $46,145 Total Deposit Net Activity - Month $55 $289 $384 Total Deposit Net Activity - YTD $5,450 $5,395 $5,106 Federal Home Loan Bank Borrowings $20,689 $20,190 $19,690 Other Borrowings: Reverse Repurchases 2,572 1,372 722 Federal Funds Purchased 0 100 300 Bank Notes 1,971 1,837 1,490 Senior Debt 991 991 991 Subordinated Notes 0 0 200 -------- -------- -------- Total Borrowings $26,223 $24,490 $23,393 ======== ======== ======== Yield on Loan Portfolio 4.64% 4.68% 4.73% Yield on Interest-Earning Investments 1.03 1.04 1.10 -------- -------- -------- Combined Yield on Interest-Earning Assets 4.61% 4.65% 4.70% Cost of Deposits 1.86% 1.87% 1.95% Cost of Federal Home Loan Bank Borrowings 1.28 1.28 1.27 Cost of Other Borrowings 1.80 1.97 2.38 -------- -------- -------- Combined Cost of Funds 1.69% 1.71% 1.78% -------- -------- -------- Net Interest Rate Spread (Primary Spread) 2.92% 2.94% 2.92% ======== ======== ======== Loans Sold $83 $205 $231 Loan and MBS Repayments and Payoffs - Month $1,543 $1,845 $1,918 As a % of Prior Month Loan Balances (Annualized) 24.81% 30.35% 32.30% Nonperforming Assets and Troubled Debt Restructured as a % of Total Assets .52% .54% .56% 2003 -------------------------- AUG JUL JUN -------- -------- -------- Total Assets $75,028 $73,395 $72,198 Cash and Investments $1,693 $1,365 $873 Loans and MBS $71,270 $70,038 $69,295 Adjustable Rate Mortgages and MBS $67,843 $66,868 $66,078 Loans Originated - Month $3,237 $3,157 $2,786 Percentage ARMs - Month 92% 90% 92% Percentage Refinances - Month 71% 71% 70% Loans Originated - YTD $21,381 $18,144 $14,987 Percentage ARMs - YTD 91% 91% 91% Percentage Refinances - YTD 71% 71% 71% Total Deposits $45,761 $44,968 $44,386 Total Deposit Net Activity - Month $793 $582 $303 Total Deposit Net Activity - YTD $4,722 $3,929 $3,347 Federal Home Loan Bank Borrowings $19,131 $18,923 $19,927 Other Borrowings: Reverse Repurchases 623 723 21 Federal Funds Purchased 0 0 265 Bank Notes 1,590 1,090 100 Senior Debt 991 991 990 Subordinated Notes 200 200 200 -------- -------- -------- Total Borrowings $22,535 $21,927 $21,503 ======== ======== ======== Yield on Loan Portfolio 4.80% 4.86% 4.92% Yield on Interest-Earning Investments 1.03 1.06 1.27 -------- -------- -------- Combined Yield on Interest-Earning Assets 4.74% 4.81% 4.90% Cost of Deposits 2.03% 2.06% 2.12% Cost of Federal Home Loan Bank Borrowings 1.29 1.32 1.37 Cost of Other Borrowings 2.49 2.67 4.17 -------- -------- -------- Combined Cost of Funds 1.84% 1.88% 1.94% -------- -------- -------- Net Interest Rate Spread (Primary Spread) 2.90% 2.93% 2.96% ======== ======== ======== Loans Sold $431 $456 $336 Loan and MBS Repayments and Payoffs - Month $1,920 $1,949 $1,728 As a % of Prior Month Loan Balances (Annualized) 32.90% 33.75% 30.28% Nonperforming Assets and Troubled Debt Restructured as a % of Total Assets .57% .60% .62% CONTACT: Golden West Financial Corporation William C. Nunan, 510-446-3614