FACTBOX: Countrywide Financial at a glance

Fri Jan 11, 2008 4:43pm EST
 
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(Reuters) - Countrywide Financial Corp CFC.N agreed on Friday to be purchased by Bank of America (BAC.N) for $4 billion. The mortgage lender, battered by the subprime crisis, had a market value of $26 billion less than a year ago.

The following are selected facts about the largest U.S. mortgage lender.

COMPANY

Founded: 1969 by David Loeb and Angelo Mozilo, both New Yorkers, as Countrywide Credit Industries. Went public the same year. Changed name to Countrywide Financial Corp in 2002.

Headquarters: Calabasas, California

Chairman and Chief Executive: Angelo Mozilo

President and Chief Operating Officer: David Sambol

Major business operations: mortgage banking, Countrywide Bank, capital markets, insurance

Employees: 50,600 (following about 11,000 job cuts in 2007)

Countrywide Bank assets: $101 billion as of September 30

FINANCIAL AND LENDING INFORMATION

EARNINGS

2006 net income: $2.67 billion

2006 net income per share: $4.30

2007 third-quarter net loss: $1.2 billion

2007 third-quarter net loss per share: $2.85  Continued...

 

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