EX-99.2 3 a4747015ex992.txt GOLDEN WEST FINANCIAL EXHIBIT 99.2 13 MONTH PRESS Exhibit 99.2 Golden West Financial Releases Thirteen Month Statistical Data OAKLAND, Calif.--(BUSINESS WIRE)--Oct. 21, 2004--Golden West Financial Corporation (NYSE:GDW) (PCX:GDW), parent of World Savings Bank, today released statistical data for the thirteen months ended September 30, 2004. Headquartered in Oakland, California, Golden West is one of the nation's largest financial institutions with assets over $100 billion as of September 30, 2004. The Company has one of the most extensive thrift branch systems in the country, with 276 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. (Financial Information Attached) GOLDEN WEST FINANCIAL CORPORATION AND SUBSIDIARIES MONTHLY FINANCIAL HIGHLIGHTS September 2003 - September 2004 (Dollars in millions) 2004 --------------------------------------- SEP AUG JUL JUN --------- --------- --------- --------- Total Assets $100,248 $ 98,553 $ 96,033 $ 93,158 Cash and Investments $ 1,203 $ 1,655 $ 2,026 $ 1,836 Loans and MBS $ 96,616 $ 94,521 $ 91,677 $ 89,094 Adjustable Rate Mortgages and MBS $ 93,427 $ 91,201 $ 88,452 $ 85,732 Loans Originated - Month $ 4,343 $ 4,873 $ 4,856 $ 4,791 Percentage ARMs - Month 99% 99% 99% 99% Percentage Refinances - Month 71% 68% 68% 69% Loans Originated - YTD $ 35,905 $ 31,562 $ 26,689 $ 21,833 Percentage ARMs - YTD 99% 99% 98% 98% Percentage Refinances - YTD 71% 71% 71% 72% Total Deposits $ 51,667 $ 50,867 $ 49,775 $ 48,611 Total Deposit Net Activity - Month $ 800 $ 1,092 $ 1,164 $ 767 Total Deposit Net Activity - YTD $ 4,940 $ 4,140 $ 3,048 $ 1,884 Federal Home Loan Bank Borrowings $ 32,017 $ 31,775 $ 30,232 $ 28,712 Other Borrowings: Reverse Repurchases 3,650 3,669 3,571 3,471 Federal Funds Purchased 0 0 0 0 Bank Notes 869 1,148 1,631 1,787 Senior Debt 3,998 3,001 2,993 2,990 Subordinated Notes 0 0 0 0 --------- --------- --------- --------- Total Borrowings $ 40,534 $ 39,593 $ 38,427 $ 36,960 ========= ========= ========= ========= Yield on Loan Portfolio 4.59% 4.54% 4.50% 4.50% Yield on Interest-Earning Investments 1.90 1.56 1.32 1.35 --------- --------- --------- --------- Combined Yield on Interest-Earning Assets 4.57% 4.51% 4.46% 4.46% Cost of Deposits 1.97% 1.94% 1.91% 1.88% Cost of Federal Home Loan Bank Borrowings 1.78 1.65 1.48 1.35 Cost of Other Borrowings 2.21 1.95 1.84 1.73 --------- --------- --------- --------- Combined Cost of Funds 1.93% 1.84% 1.75% 1.69% --------- --------- --------- --------- Net Interest Rate Spread (Primary Spread) 2.64% 2.67% 2.71% 2.77% ========= ========= ========= ========= Loans Sold $ 30 $ 35 $ 35 $ 79 Loan and MBS Repayments and Payoffs - Month $ 2,113 $ 2,103 $ 2,104 $ 2,308 As a % of Prior Month Loan Balances (Annualized) 26.96% 27.66% 28.47% 32.18% Nonperforming Assets and Troubled Debt Restructured as a % of Total Assets .36% .37% .40% .41% 2004 ----------------------------- MAY APR MAR --------- --------- --------- Total Assets $ 90,336 $ 88,499 $ 86,605 Cash and Investments $ 1,706 $ 1,688 $ 1,372 Loans and MBS $ 86,437 $ 84,664 $ 83,079 Adjustable Rate Mortgages and MBS $ 83,278 $ 81,549 $ 79,890 Loans Originated - Month $ 3,853 $ 3,795 $ 3,839 Percentage ARMs - Month 98% 98% 98% Percentage Refinances - Month 72% 73% 72% Loans Originated - YTD $ 17,042 $ 13,189 $ 9,394 Percentage ARMs - YTD 98% 98% 98% Percentage Refinances - YTD 72% 73% 72% Total Deposits $ 47,844 $ 47,353 $ 47,384 Total Deposit Net Activity - Month $ 491 $ (31) $ 253 Total Deposit Net Activity - YTD $ 1,117 $ 626 $ 657 Federal Home Loan Bank Borrowings $ 27,210 $ 26,214 $ 24,806 Other Borrowings: Reverse Repurchases 2,872 3,072 2,672 Federal Funds Purchased 0 0 0 Bank Notes 2,865 2,500 2,505 Senior Debt 1,990 1,990 1,990 Subordinated Notes 0 0 0 --------- --------- --------- Total Borrowings $ 34,937 $ 33,776 $ 31,973 ========= ========= ========= Yield on Loan Portfolio 4.52% 4.55% 4.58% Yield on Interest-Earning Investments 1.04 1.05 1.05 --------- --------- --------- Combined Yield on Interest-Earning Assets 4.47% 4.51% 4.55% Cost of Deposits 1.85% 1.85% 1.85% Cost of Federal Home Loan Bank Borrowings 1.24 1.22 1.23 Cost of Other Borrowings 1.61 1.61 1.64 --------- --------- --------- Combined Cost of Funds 1.63% 1.62% 1.63% --------- --------- --------- Net Interest Rate Spread (Primary Spread) 2.84% 2.89% 2.92% ========= ========= ========= Loans Sold $ 81 $ 64 $ 51 Loan and MBS Repayments and Payoffs - Month $ 2,090 $ 2,099 $ 1,949 As a % of Prior Month Loan Balances (Annualized) 29.62% 30.32% 28.87% Nonperforming Assets and Troubled Debt Restructured as a % of Total Assets .44% .45% .48% GOLDEN WEST FINANCIAL CORPORATION AND SUBSIDIARIES MONTHLY FINANCIAL HIGHLIGHTS September 2003 - September 2004 (Dollars in millions) 2004 --------------------- FEB JAN --------- --------- Total Assets $ 84,945 $ 82,910 Cash and Investments $ 1,839 $ 1,216 Loans and MBS $ 81,003 $ 79,600 Adjustable Rate Mortgages and MBS $ 78,042 $ 76,769 Loans Originated - Month $ 2,690 $ 2,865 Percentage ARMs - Month 98% 98% Percentage Refinances - Month 74% 71% Loans Originated - YTD $ 5,555 $ 2,865 Percentage ARMs - YTD 98% 98% Percentage Refinances - YTD 72% 71% Total Deposits $ 47,131 $ 46,875 Total Deposit Net Activity - Month $ 256 $ 148 Total Deposit Net Activity - YTD $ 404 $ 148 Federal Home Loan Bank Borrowings $ 24,110 $ 22,008 Other Borrowings: Reverse Repurchases 1,971 2,571 Federal Funds Purchased 0 0 Bank Notes 3,509 3,413 Senior Debt 992 991 Subordinated Notes 0 0 --------- --------- Total Borrowings $ 30,582 $ 28,983 ========= ========= Yield on Loan Portfolio 4.61% 4.60% Yield on Interest-Earning Investments 1.05 1.04 --------- --------- Combined Yield on Interest-Earning Assets 4.56% 4.57% Cost of Deposits 1.85% 1.85% Cost of Federal Home Loan Bank Borrowings 1.25 1.28 Cost of Other Borrowings 1.68 1.66 --------- --------- Combined Cost of Funds 1.65% 1.67% --------- --------- Net Interest Rate Spread (Primary Spread) 2.91% 2.90% ========= ========= Loans Sold $ 31 $ 50 Loan and MBS Repayments and Payoffs - Month $ 1,401 $ 1,323 As a % of Prior Month Loan Balances (Annualized) 21.13% 20.28% Nonperforming Assets and Troubled Debt Restructured as a % of Total Assets .52% .52% 2003 ------------------------------------------ DEC NOV OCT SEP --------- --------- --------- --------- Total Assets $ 82,550 $ 79,661 $ 77,748 $ 76,158 Cash and Investments $ 2,140 $ 1,285 $ 1,045 $ 1,169 Loans and MBS $ 78,311 $ 76,272 $ 74,645 $ 72,949 Adjustable Rate Mortgages and MBS $ 75,239 $ 73,222 $ 71,521 $ 69,528 Loans Originated - Month $ 3,761 $ 3,276 $ 3,869 $ 3,698 Percentage ARMs - Month 98% 98% 98% 97% Percentage Refinances - Month 71% 70% 69% 67% Loans Originated - YTD $ 35,985 $ 32,224 $ 28,948 $ 25,079 Percentage ARMs - YTD 94% 93% 92% 92% Percentage Refinances - YTD 70% 70% 70% 71% Total Deposits $ 46,727 $ 46,489 $ 46,434 $ 46,145 Total Deposit Net Activity - Month $ 238 $ 55 $ 289 $ 384 Total Deposit Net Activity - YTD $ 5,688 $ 5,450 $ 5,395 $ 5,106 Federal Home Loan Bank Borrowings $ 22,000 $ 20,689 $ 20,190 $ 19,690 Other Borrowings: Reverse Repurchases 3,021 2,572 1,372 722 Federal Funds Purchased 0 0 100 300 Bank Notes 3,016 1,971 1,837 1,490 Senior Debt 991 991 991 991 Subordinated Notes 0 0 0 200 --------- --------- --------- --------- Total Borrowings $ 29,028 $ 26,223 $ 24,490 $ 23,393 ========= ========= ========= ========= Yield on Loan Portfolio 4.61% 4.64% 4.68% 4.73% Yield on Interest-Earning Investments .93 1.03 1.04 1.10 --------- --------- --------- --------- Combined Yield on Interest-Earning Assets 4.54% 4.61% 4.65% 4.70% Cost of Deposits 1.85% 1.86% 1.87% 1.95% Cost of Federal Home Loan Bank Borrowings 1.28 1.28 1.28 1.27 Cost of Other Borrowings 1.66 1.80 1.97 2.38 --------- --------- --------- --------- Combined Cost of Funds 1.67% 1.69% 1.71% 1.78% --------- --------- --------- --------- Net Interest Rate Spread (Primary Spread) 2.87% 2.92% 2.94% 2.92% ========= ========= ========= ========= Loans Sold $113 $83 $205 $231 Loan and MBS Repayments and Payoffs - Month $1,717 $1,543 $1,845 $1,918 As a % of Prior Month Loan Balances (Annualized) 27.02% 24.81% 30.35% 32.30% Nonperforming Assets and Troubled Debt Restructured as a % of Total Assets .51% .52% .54% .56% CONTACT: Golden West Financial Corporation William C. Nunan, 510-446-3614