Exhibit 99.2
Golden West Financial Releases Thirteen Month Statistical Data
OAKLAND, Calif.--(BUSINESS WIRE)--July 20, 2005--Golden West
Financial Corporation (NYSE:GDW), parent of World Savings Bank, today
released statistical data for the thirteen months ended June 30, 2005.
Headquartered in Oakland, California, Golden West is one of the
nation's largest financial institutions with assets over $115 billion
as of June 30, 2005. The Company has one of the most extensive thrift
branch systems in the country, with 281 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
June 2004 - June 2005
(Dollars in millions)
2005
---------------------------------------
JUN MAY APR MAR
--------- --------- --------- ---------
Total Assets $117,486 $115,532 $114,202 $112,588
Cash and Investments $ 1,984 $ 1,712 $ 2,281 $ 2,366
Loans and MBS $112,746 $111,089 $109,170 $107,494
Adjustable Rate Mortgages and
MBS $109,542 $107,861 $106,076 $104,481
Loans Originated - Month $ 4,825 $ 4,432 $ 4,196 $ 4,514
Percentage ARMs - Month 99% 99% 100% 99%
Percentage Refinances -
Month 74% 75% 76% 77%
Loans Originated - YTD $ 24,628 $ 19,803 $ 15,371 $ 11,175
Percentage ARMs - YTD 99% 99% 99% 99%
Percentage Refinances - YTD 76% 77% 77% 78%
Total Deposits $ 59,226 $ 57,701 $ 56,682 $ 55,593
Total Deposit Net Activity -
Month $ 1,525 $ 1,019 $ 1,089 $ 1,343
Total Deposit Net Activity -
YTD $ 6,261 $ 4,736 $ 3,717 $ 2,628
Federal Home Loan Bank
Borrowings $ 35,756 $ 35,759 $ 35,758 $ 35,512
Other Borrowings:
Reverse Repurchases 4,450 4,450 4,350 4,050
Federal Funds Purchased 0 0 0 0
Bank Notes 2,233 2,399 2,547 2,486
Senior Debt 6,737 5,987 5,974 5,956
--------- --------- --------- ---------
Total Borrowings $ 49,176 $ 48,595 $ 48,629 $ 48,004
========= ========= ========= =========
Yield on Loan Portfolio 5.40% 5.28% 5.16% 5.06%
Yield on Interest-Earning
Investments 3.41 3.10 2.99 2.90
--------- --------- --------- ---------
Combined Yield on Interest-
Earning Assets 5.38% 5.26% 5.13% 5.02%
Cost of Deposits 2.70% 2.61% 2.52% 2.39%
Cost of Federal Home Loan Bank
Borrowings 3.29 3.16 2.99 2.83
Cost of Other Borrowings 3.47 3.27 3.17 3.07
--------- --------- --------- ---------
Combined Cost of Funds 2.99% 2.87% 2.76% 2.62%
--------- --------- --------- ---------
Net Interest Rate Spread
(Primary Spread) 2.39% 2.39% 2.37% 2.40%
========= ========= ========= =========
Loans Sold $ 38 $ 29 $ 32 $ 32
Loan and MBS Repayments and
Payoffs - Month $ 3,065 $ 2,588 $ 2,555 $ 2,677
As a % of Prior Month Loan
Balances (Annualized) 33.33% 28.63% 28.71% 30.55%
Nonperforming Assets and
Troubled Debt Restructured as
a % of Total Assets .28% .30% .31% .32%
GOLDEN WEST FINANCIAL CORPORATION AND SUBSIDIARIES
MONTHLY FINANCIAL HIGHLIGHTS
June 2004 - June 2005
(Dollars in millions)
2005 2004
------------------- ---------
FEB JAN DEC
--------- --------- ---------
Total Assets $110,663 $109,091 $106,889
Cash and Investments $ 2,170 $ 2,097 $ 1,667
Loans and MBS $105,811 $104,344 $102,669
Adjustable Rate Mortgages and MBS $102,705 $101,381 $ 99,731
Loans Originated - Month $ 3,262 $ 3,399 $ 4,727
Percentage ARMs - Month 99% 99% 99%
Percentage Refinances - Month 79% 77% 76%
Loans Originated - YTD $ 6,661 $ 3,399 $ 48,989
Percentage ARMs - YTD 99% 99% 99%
Percentage Refinances - YTD 78% 77% 72%
Total Deposits $ 54,250 $ 53,657 $ 52,965
Total Deposit Net Activity - Month $ 593 $ 692 $ 541
Total Deposit Net Activity - YTD $ 1,285 $ 692 $ 6,238
Federal Home Loan Bank Borrowings $ 35,624 $ 35,028 $ 33,782
Other Borrowings:
Reverse Repurchases 3,900 3,900 3,900
Federal Funds Purchased 0 0 0
Bank Notes 2,842 2,681 2,710
Senior Debt 5,273 5,289 5,292
--------- --------- ---------
Total Borrowings $ 47,639 $ 46,898 $ 45,684
========= ========= =========
Yield on Loan Portfolio 4.95% 4.84% 4.75%
Yield on Interest-Earning Investments 2.62 2.55 2.08
--------- --------- ---------
Combined Yield on Interest-Earning
Assets 4.92% 4.81% 4.73%
Cost of Deposits 2.28% 2.19% 2.08%
Cost of Federal Home Loan Bank
Borrowings 2.65 2.46 2.30
Cost of Other Borrowings 2.80 2.73 2.60
--------- --------- ---------
Combined Cost of Funds 2.47% 2.35% 2.22%
--------- --------- ---------
Net Interest Rate Spread (Primary
Spread) 2.45% 2.46% 2.51%
========= ========= =========
Loans Sold $ 30 $ 29 $ 33
Loan and MBS Repayments and Payoffs -
Month $ 1,912 $ 1,726 $ 2,506
As a % of Prior Month Loan Balances
(Annualized) 22.12% 20.29% 29.99%
Nonperforming Assets and Troubled Debt
Restructured as a % of Total Assets .33% .33% .33%
GOLDEN WEST FINANCIAL CORPORATION AND SUBSIDIARIES
MONTHLY FINANCIAL HIGHLIGHTS
June 2004 - June 2005
(Dollars in millions)
2004
-----------------------------
NOV OCT SEP
--------- --------- ---------
Total Assets $104,641 $102,759 $100,248
Cash and Investments $ 1,284 $ 1,614 $ 1,203
Loans and MBS $100,846 $ 98,664 $ 96,616
Adjustable Rate Mortgages and MBS $ 97,572 $ 95,580 $ 93,427
Loans Originated - Month $ 4,135 $ 4,222 $ 4,343
Percentage ARMs - Month 99% 99% 99%
Percentage Refinances - Month 75% 73% 71%
Loans Originated - YTD $ 44,262 $ 40,127 $35,905
Percentage ARMs - YTD 99% 99% 99%
Percentage Refinances - YTD 71% 71% 71%
Total Deposits $ 52,424 $ 52,215 $ 51,667
Total Deposit Net Activity - Month $ 209 $ 548 $ 800
Total Deposit Net Activity - YTD $ 5,697 $ 5,488 $ 4,940
Federal Home Loan Bank Borrowings $ 32,957 $ 32,263 $ 32,017
Other Borrowings:
Reverse Repurchases 4,150 3,900 3,650
Federal Funds Purchased 20 0 0
Bank Notes 2,544 2,069 869
Senior Debt 3,993 4,000 3,998
--------- --------- ---------
Total Borrowings $ 43,664 $ 42,232 $ 40,534
========= ========= =========
Yield on Loan Portfolio 4.71% 4.64% 4.59%
Yield on Interest-Earning Investments 2.08 1.83 1.90
--------- --------- ---------
Combined Yield on Interest-Earning
Assets 4.69% 4.62% 4.57%
Cost of Deposits 2.02% 2.00% 1.97%
Cost of Federal Home Loan Bank
Borrowings 2.10 1.91 1.78
Cost of Other Borrowings 2.27 2.22 2.21
--------- --------- ---------
Combined Cost of Funds 2.07% 1.99% 1.93%
--------- --------- ---------
Net Interest Rate Spread (Primary
Spread) 2.62% 2.63% 2.64%
========= ========= =========
Loans Sold $ 27 $ 37 $ 30
Loan and MBS Repayments and Payoffs -
Month $ 2,114 $ 2,045 $ 2,113
As a % of Prior Month Loan Balances
(Annualized) 25.86% 25.54% 26.96%
Nonperforming Assets and Troubled Debt
Restructured as a % of Total Assets .35% .35% .36%
GOLDEN WEST FINANCIAL CORPORATION AND SUBSIDIARIES
MONTHLY FINANCIAL HIGHLIGHTS
June 2004 - June 2005
(Dollars in millions)
2004
-----------------------------
AUG JUL JUN
--------- --------- ---------
Total Assets $ 98,553 $ 96,033 $ 93,158
Cash and Investments $ 1,655 $ 2,026 $ 1,836
Loans and MBS $ 94,521 $ 91,677 $ 89,094
Adjustable Rate Mortgages and MBS $ 91,201 $ 88,452 $ 85,732
Loans Originated - Month $ 4,873 $ 4,856 $ 4,791
Percentage ARMs - Month 99% 99% 99%
Percentage Refinances - Month 68% 68% 69%
Loans Originated - YTD $ 31,562 $ 26,689 $ 21,833
Percentage ARMs - YTD 99% 98% 98%
Percentage Refinances - YTD 71% 71% 72%
Total Deposits $ 50,867 $ 49,775 $ 48,611
Total Deposit Net Activity - Month $ 1,092 $ 1,164 $ 767
Total Deposit Net Activity - YTD $ 4,140 $ 3,048 $ 1,884
Federal Home Loan Bank Borrowings $ 31,775 $ 30,232 $ 28,712
Other Borrowings:
Reverse Repurchases 3,669 3,571 3,471
Federal Funds Purchased 0 0 0
Bank Notes 1,148 1,631 1,787
Senior Debt 3,001 2,993 2,990
-------- -------- --------
Total Borrowings $ 39,593 $ 38,427 $ 36,960
======== ======== ========
Yield on Loan Portfolio 4.54% 4.50% 4.50%
Yield on Interest-Earning Investments 1.56 1.32 1.35
-------- -------- --------
Combined Yield on Interest-Earning
Assets 4.51% 4.46% 4.46%
Cost of Deposits 1.94% 1.91% 1.88%
Cost of Federal Home Loan Bank Borrowings 1.65 1.48 1.35
Cost of Other Borrowings 1.95 1.84 1.73
-------- -------- --------
Combined Cost of Funds 1.84% 1.75% 1.69%
-------- -------- --------
Net Interest Rate Spread (Primary Spread) 2.67% 2.71% 2.77%
======== ======== ========
Loans Sold $ 35 $ 35 $ 79
Loan and MBS Repayments and Payoffs -
Month $ 2,103 $ 2,104 $ 2,308
As a % of Prior Month Loan Balances
(Annualized) 27.66% 28.47% 32.18%
Nonperforming Assets and Troubled Debt
Restructured as a % of Total Assets .37% .40% .41%
CONTACT: Golden West Financial Corporation
William C. Nunan, 510-446-3614