Analysts on Thursday said SGV Bancorp of West Covina, Calif., is a likely target for IndyMac Mortgage Holdings, which has said it intends to restructure and acquire a thrift charter.
Officials of IndyMac, Pasadena, Calif., said Wednesday they intend to buy a California savings and loan with about 10 branches, $500 million of assets, and a predominantly residential portfolio.
SGV, the holding company for First Federal Savings and Loan Association of San Gabriel Valley, has eight branches and $460 million of assets, mainly from residential mortgage loans, a spokesman said.
Analysts said that no other publicly traded savings and loan in California has the same mix of characteristics. An SGV Bancorp spokesman said he would not comment on speculation. IndyMac executives did not return phone calls.
SGV shares gained 25 cents, to $12.375, Thursday.