EX-99.2 3 a5191902ex99-2.txt EXHIBIT 99.2 Exhibit 99.2 Golden West Financial Releases Thirteen Month Statistical Data OAKLAND, Calif.--(BUSINESS WIRE)--July 20, 2006--Golden West Financial Corporation (NYSE:GDW), parent of World Savings Bank, today released statistical data for the thirteen months ended June 30, 2006. Headquartered in Oakland, California, Golden West is one of the nation's largest financial institutions with assets over $125 billion as of June 30, 2006. The Company has one of the most extensive thrift branch systems in the country, with 285 savings branches in 10 states and lending operations in 39 states. Golden West's stock is listed on the New York Stock Exchange 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 2005 - June 2006 (Dollars in millions) 2006 --------------------------------------- JUN MAY APR MAR --------- --------- --------- --------- Total Assets $128,806 $128,930 $128,120 $127,556 Cash and Investments $ 2,158 $ 2,442 $ 2,148 $ 2,181 Loans and MBS $123,518 $123,381 $122,835 $122,300 Adjustable Rate Mortgages and MBS $120,488 $120,304 $119,844 $119,240 Loans Originated - Month $ 3,907 $ 3,968 $ 3,816 $ 4,472 Percentage ARMs - Month 99% 99% 99% 99% Percentage Refinances - Month 84% 83% 85% 85% Loans Originated - YTD $ 23,257 $ 19,350 $ 15,382 $ 11,566 Percentage ARMs - YTD 99% 99% 99% 99% Percentage Refinances - YTD 84% 84% 85% 84% Total Deposits $ 62,234 $ 61,650 $ 61,063 $ 61,583 Total Deposit Net Activity - Month $ 584 $ 587 $ (520) $ 527 Total Deposit Net Activity - YTD $ 2,076 $ 1,492 $ 905 $ 1,425 Federal Home Loan Bank Borrowings $ 38,447 $ 37,601 $ 38,504 $ 38,509 Other Borrowings: Reverse Repurchases 5,600 5,850 6,200 5,900 Bank Notes 2,183 3,221 3,620 2,977 Senior Debt 9,564 9,567 8,075 8,075 --------- --------- --------- --------- Total Borrowings $ 55,794 $ 56,239 $ 56,399 $ 55,461 ========= ========= ========= ========= Yield on Loan Portfolio 7.04% 6.93% 6.82% 6.71% Yield on Interest-Earning Investments 5.30 5.11 4.90 4.91 --------- --------- --------- --------- Combined Yield on Interest- Earning Assets 7.02% 6.91% 6.80% 6.69% Cost of Savings 3.94% 3.79% 3.66% 3.56% Cost of Federal Home Loan Bank Borrowings 5.23 5.06 4.89 4.75 Cost of Other Borrowings 5.30 5.10 5.00 4.87 --------- --------- --------- --------- Combined Cost of Funds 4.56% 4.40% 4.27% 4.14% --------- --------- --------- --------- Net Interest Rate Spread (Primary Spread) 2.46% 2.51% 2.53% 2.55% ========= ========= ========= ========= Loans Sold $ 118 $ 118 $ 94 $ 77 Loan and MBS Repayments and Payoffs - Month $ 3,767 $ 3,553 $ 3,224 $ 3,683 As a % of Prior Month Loan Balance (Annualized) 36.91% 34.96% 31.87% 36.63% Nonperforming Assets and Troubled Debt Restructured as a % of Total Assets .37% .35% .35% .34% 2006 2005 ------------------- ------------------- FEB JAN DEC NOV --------- --------- --------- --------- Total Assets $126,475 $125,332 $124,615 $124,456 Cash and Investments $ 1,904 $ 1,803 $ 2,222 $ 3,052 Loans and MBS $121,526 $120,521 $119,366 $118,435 Adjustable Rate Mortgages and MBS $118,407 $117,519 $116,370 $115,258 Loans Originated - Month $ 3,520 $ 3,574 $ 4,587 $ 4,255 Percentage ARMs - Month 99% 99% 99% 99% Percentage Refinances - Month 86% 83% 81% 81% Loans Originated - YTD $ 7,094 $ 3,574 $ 51,516 $ 46,929 Percentage ARMs - YTD 99% 99% 99% 99% Percentage Refinances - YTD 84% 83% 77% 77% Total Deposits $ 61,056 $ 60,523 $ 60,158 $ 60,268 Total Deposit Net Activity - Month $ 533 $ 365 $ (110) $ 1,185 Total Deposit Net Activity - YTD $ 898 $ 365 $ 7,193 $ 7,303 Federal Home Loan Bank Borrowings $ 37,957 $ 37,958 $ 38,961 $ 38,615 Other Borrowings: Reverse Repurchases 5,500 5,750 5,000 5,000 Bank Notes 3,153 2,653 2,394 2,024 Senior Debt 8,186 8,192 8,194 8,191 --------- --------- --------- --------- Total Borrowings $ 54,796 $ 54,553 $ 54,549 $ 53,830 ========= ========= ========= ========= Yield on Loan Portfolio 6.60% 6.49% 6.37% 6.27% Yield on Interest-Earning Investments 4.60 4.51 4.11 4.08 --------- --------- --------- --------- Combined Yield on Interest- Earning Assets 6.58% 6.47% 6.35% 6.22% Cost of Savings 3.46% 3.36% 3.24% 3.14% Cost of Federal Home Loan Bank Borrowings 4.62 4.45 4.33 4.13 Cost of Other Borrowings 4.65 4.58 4.47 4.18 --------- --------- --------- --------- Combined Cost of Funds 4.01% 3.89% 3.78% 3.62% --------- --------- --------- --------- Net Interest Rate Spread (Primary Spread) 2.57% 2.58% 2.57% 2.60% ========= ========= ========= ========= Loans Sold $ 67 $ 52 $ 98 $ 160 Loan and MBS Repayments and Payoffs - Month $ 2,681 $ 2,526 $ 3,371 $ 3,190 As a % of Prior Month Loan Balance (Annualized) 26.88% 25.58% 34.40% 32.78% Nonperforming Assets and Troubled Debt Restructured as a % of Total Assets .35% .33% .31% .31% 2005 ------------------------------------------------- OCT SEP AUG JUL JUN --------- --------- --------- --------- --------- Total Assets $123,422 $121,281 $119,621 $118,560 $117,486 Cash and Investments $ 2,913 $ 1,904 $ 1,376 $ 1,861 $ 1,984 Loans and MBS $117,587 $116,513 $115,461 $113,925 $112,746 Adjustable Rate Mortgages and MBS $114,306 $113,375 $112,149 $110,864 $109,542 Loans Originated - Month $ 4,277 $ 4,605 $ 4,822 $ 4,342 $ 4,825 Percentage ARMs - Month 99% 99% 99% 99% 99% Percentage Refinances - Month 80% 77% 77% 75% 74% Loans Originated - YTD $ 42,674 $ 38,397 $ 33,792 $ 28,970 $ 24,628 Percentage ARMs - YTD 99% 99% 99% 99% 99% Percentage Refinances - YTD 77% 76% 76% 76% 76% Total Deposits $ 59,083 $ 58,429 $ 58,582 $ 59,412 $ 59,226 Total Deposit Net Activity - Month $ 654 $ (153) $ (830) $ 186 $ 1,525 Total Deposit Net Activity - YTD $ 6,118 $ 5,464 $ 5,617 $ 6,447 $ 6,261 Federal Home Loan Bank Borrowings $ 38,893 $ 38,897 $ 36,666 $ 36,259 $ 35,756 Other Borrowings: Reverse Repurchases 5,150 5,150 4,950 4,700 4,450 Bank Notes 2,163 2,489 2,950 1,925 2,233 Senior Debt 8,189 6,705 6,727 6,710 6,737 --------- --------- --------- --------- --------- Total Borrowings $ 54,395 $ 53,241 $ 51,293 $ 49,594 $ 49,176 ========= ========= ========= ========= ========= Yield on Loan Portfolio 6.16% 6.04% 5.93% 5.79% 5.67% Yield on Interest- Earning Investments 4.07 3.93 3.61 3.34 3.41 --------- --------- --------- --------- --------- Combined Yield on Interest-Earning Assets 6.12% 6.01% 5.91% 5.77% 5.64% Cost of Savings 3.06% 2.97% 2.89% 2.78% 2.70% Cost of Federal Home Loan Bank Borrowings 3.94 3.79 3.61 3.42 3.29 Cost of Other Borrowings 4.07 3.93 3.68 3.58 3.47 --------- --------- --------- --------- --------- Combined Cost of Funds 3.50% 3.38% 3.24% 3.09% 2.99% --------- --------- --------- --------- --------- Net Interest Rate Spread (Primary Spread) 2.62% 2.63% 2.67% 2.68% 2.65% ========= ========= ========= ========= ========= Loans Sold $ 119 $ 84 $ 92 $ 50 $ 38 Loan and MBS Repayments and Payoffs - Month $ 3,183 $ 3,229 $ 3,397 $ 2,932 $ 3,065 As a % of Prior Month Loan Balance (Annualized) 33.01% 33.79% 36.02% 31.42% 33.33% Nonperforming Assets and Troubled Debt Restructured as a % of Total Assets .29% .28% .28% .28% .28% CONTACT: Golden West Financial Corporation William C. Nunan, 510-446-3614