Hawthorne Savings Funds $10,779,000 Million Worth of Construction Loans for Three Custom Homes by the Beach

Hawthorne Savings Funds $10,779,000 Million Worth of Construction
Loans for Three Custom Homes by the Beach 


EL SEGUNDO, Calif., April 14  /PRNewswire/ -- Hawthorne Savings, F.S.B.
("Hawthorne"), a subsidiary of Hawthorne Financial Corporation , announced
today the funding of three separate multi-million dollar single-family
residential construction loans along the coast of Southern California.

   *  A $3,965,000 loan was funded for a 5,874 square foot home in Santa
      Barbara County.  Planned for resale, the property is located in an
      unincorporated area of the County known as Montecito.  The home will
      be a 4-bedroom, 4 1/2-bath, single-level Spanish design with extensive
      sound and optic systems, pool, spa and a separate 487 sq ft cabana
      house.  Kennedy Wilson Builders, Inc. is the contractor.

   *  A $3,350,000 loan was funded for a 5,039 square foot home in the
      "Sand Section" of Hermosa Beach.  The three-story home, with beach
      frontage, will have views of the ocean and of the Hermosa Pier.  A
      Mediterranean style will include a foyer, theater, game room,
      4-bedrooms, 5 1/2-bathrooms, dining room, kitchen, library, great room
      and a master suite.  Rooms will feature cherry wood cabinets.  The
      kitchen will feature custom granite counters, center-island and Viking
      appliances.  Fireplaces will adorn the great room, library and master
      bedroom.  Hawthorne has funded four previous loans for the borrower.

   *  A $3,464,000 loan was funded for a 3,800 square foot home in Newport
      Beach.  The proposed two-story home will have 5-bedrooms, 4 1/2-baths,
      2-decks and a 3-car garage.  Features will include stone flooring,
      French doors, recessed lights, fireplaces in the living room and
      master bedroom and marble counters.  Hawthorne has funded several
      prior loans for the borrower.

  About Hawthorne Savings


Hawthorne Savings, F.S.B., an El Segundo, California-based financial
institution, and federally-chartered savings bank, was incorporated in 1950 and
commenced operations on May 11, 1951.  The Bank's 15 full-service retail
branches are located in the coastal communities of Southern California, from
Westlake Village to Mission Bay in San Diego, with its newest branches located
in Baldwin Hills and Irvine.  Hawthorne maintains a strong presence in the
South Bay region of Los Angeles County and was voted 'Best Bank in the South
Bay' for three of the last four years.

Hawthorne also specializes in real estate secured loans within the markets it
serves.  Loan types comprise: 1) permanent loans collateralized by single
family residential property, 2) permanent loans secured by multi-family
residential and commercial real estate and 3) loans for the construction of
multi-family residential, commercial and individual single family residential
properties and the acquisition and development of land for the construction of
such projects.  The Company funds its loans predominantly with retail deposits
generated through its fifteen full service retail offices and FHLB advances.
For more information, please call 888-TRUE-411 or visit the bank online at
http://www.hawthornesavings.com/. 

DATASOURCE: Hawthorne Savings, F.S.B.



CONTACT:  Michelle Menna, Marketing Liaison of Hawthorne Savings, F.S.B.,

[phone]



Web site:  http://www.hawthornesavings.com/ 

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