Odyssey Of An Expansion

Security Savings began an expansion project in 1979 that would increase its assets from $130 million to over $1 billion. In an interview, Ernest T. Szeker, executive vice-president and chief financial officer of Security Savings, discussed the strategy for this expansion. One of 3 growth objectives...

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Bibliographic Details
Published in:Financial managers' statement 1988-03, Vol.10 (2), p.48
Main Author: Melia, Marilyn
Format: Article
Language:English
Subjects:
Acquisitions & mergers
Branch banking
Case studies
Expansion
Going public
Savings & loan associations
Strategic planning
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Summary:Security Savings began an expansion project in 1979 that would increase its assets from $130 million to over $1 billion. In an interview, Ernest T. Szeker, executive vice-president and chief financial officer of Security Savings, discussed the strategy for this expansion. One of 3 growth objectives was to expand the customer base achieved by acquiring failing thrift institutions and by establishing branch offices. The 2nd objective, increased earnings, was accomplished when Security Savings diversified its interest into real estate, retail marine paper, and insurance, offering short-term adjustable rate consumer loans, and providing a variety of products and services that are fee-based. The 3rd objective is the never-ending goal to develop an optimal asset and liability management program.
ISSN:0887-4808