In what one analyst said may be a precursor to similar developments at other big California thrifts, H.F. Ahmanson & Co. has announced its first stock repurchase plan.

The $50 billion-asset company's board this week authorized repurchases of up to $250 million of its common stock. This would equal between 5% and 10% of the thrift's shares outstanding, depending on the price at which the shares are purchased, said spokeswoman Mary Trigg.

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