Home Savings and Loan
The importance of Howard F. Ahmanson to the early development of the museum cannot be exaggerated . He was a prime mover in securing the support of the County Board of Supervisors for the concept of an art museum and in encouraging them to make available...
The Ahmanson Gifts / European Masterpieces in the Collection of the Los Angeles County Museum of Art, 1991.
Philip Conisbee, Mary L. Levkoff, Richard Rand
The Future For Your Family And You
By 1961, Home Savings and Loan was the biggest savings and loan company in the US, boasting $1B in assets. Founded in 1889, the financial institution was purchased in 1947 by Howard F. Ahmanson. The cost? A reported $162,000.
The renowned Nebraska-born banker was closely tied to Los Angeles, financially backing two notable buildings; the downtown Music Center (1964), and the
Los Angeles County Museum of Art.
His real breakthrough came in 1947, when he founded H. F. Ahmanson & Company, a holding company that allowed him to acquire and control multiple financial institutions. Sensing boom times in the early-1960s, Home Savings expanded rapidly throughout the prospering Southland, thanks in part to Ahmanson providing a branch system — with offices “wherever you live, work, or shop.”
During the mid-1950s, the bank made several acquisitions, including Long Beach North American, Occidental, Arcadia Savings and Loan, and Pasadena Savings and Loan. In 1956, the firm opened its new two-story Beverly Hills office, designed by Millard Sheets. Ahmanson received recognition from the City Council in 1965, for his architectural contributions through through his buildings.
Early Days
The lot at Sunset and Vine in Hollywood was formerly part of a ranch owned by Colonel Robert Northam. Around 1901, Colonel Northam constructed the studio space that became the Lasky-DeMille Barn. Real estate developer Jacob Stern acquired the property in November 1904.
In 1913, filmmakers Harry Revier and L.L. Burns leased the barn on Stern’s ranch for their fledgling studio. The duo also founded the Western Costume Company. Cecil B. DeMille and Jesse L. Lasky subleased the barn for Jesse. L. Lasky Feature Play Company, which filmed portions of The Squaw Man, the first full-length Hollywood feature on that site.
The original lot was later used by several small commercial entities and acquired by the National Broadcasting Co. (NBC) to be the site of its West Coast Radio City Studio. Designed by the English-born architect John C.W. Austin, the three-story Streamline Moderne building was completed in 1938 and served as the West Coast headquarters of NBC until 1964, when NBC relocated to Burbank.
In May of 1964, one of the Glitter Capital’s brightest landmarks met the business end of the wrecking ball. Tentative plans dating back to 1961 were floated for a luxury complex known as The Towers - designed by Paul Williams, but ultimately, the property was purchased by Howard Ahmanson.
Home of the Stars
Located at the northeast corner of North Vine Street, ground was broken in May 1967 with John A. Anderson listed as architect. Artist Millard Sheets designed the building using the New Formalist “jewel box” style — a style developed during the mid-1950s.
Based in Claremont, Millard Sheets created the exterior mosaics and an interior mural with assistance from former student, Susan Lautmann Hertel (1930-1993). Having worked with Millard Sheets since he founded his design company in 1953, Hertel’s work was applied to over a dozen Home Savings locations, as well as the Scottish Rite Masonic Temple on Wilshire Blvd. In 1980, Home Savings and Loan commissioned the studio for their Long Beach branch.
The forecourt at Sunset and Vine featured a cast-concrete fountain with a statue of Zeus and Europa, created by Paul Manship in the 1920s. The bank exterior featured a 500 square-foot mosaic, created by Nancy Colbath and Edward Martinez. Work took about one year, and was completed at Millard Sheets’ studio. Two years later, Colbath worked with Millard Sheets for Home Savings Bank in Anaheim. The former Claremont resident passed away in 1974.
Living Memorial
Amid much fanfare, the new Home of the Stars opened in June 1968. In addition to paying the highest interest in the nation, the bank offered customers refreshments and a free souvenir book, "From Oranges to Oscars". On hand for the opening were Charlton Heston and Elsa Lanchester. Newspapers reported that the old Pathé camera used by Cecil B. DeMille to shoot The Squaw Man in 1913 was on display.
In addition, the new two-story building featured a time-capsule in its vault, containing various entertainment artifacts.
With its movie-inspired murals and mosaics, the Hollywood office, which became something of a tourist attraction, was created as a living memorial to the entertainment industry. Both Clara Bow and Norma Talmadge had their Stars on the Walk of Fame there.
Despite various structural alterations over the years (including a bank vault being added in 1985), the structure remained historically intact, although the interior was remodeled in 2005.
Home Savings and Loan underwent several ownership changes over the years, including being acquired by Washington Mutual in 1998 and later by JPMorgan Chase.
Compliments Ignored
In addition to construction on Howard Ahmanson’s Hollywood branch, 1967 was a significant year for the wealthy banker. Plans were underway for a business center complex on Wilshire Blvd. — designed by Edward Durell Stone, as well as the Desert Inn Fashion Plaza in Palm Springs, formerly the historic Desert Inn owned by Nellie Coffman.
Sadly, the financier, philanthropist, and art collector died of a heart attack while vacationing in Belgium in June of 1968. With him were his second wife, Caroline Leonetti, and son, Howard Jr. Caroline Leonetti, who went on to become a leading philanthropist, formerly operated a charm school, first on Hollywood Blvd, then on Sunset Blvd, which ran from 1958 to 1984. Caroline Leonetti passed away in 2005.
Upon the news of Howard F. Ahmanson's death, tributes poured in. The Board of Supervisors ordered flags on all county buildings flown at half-staff on the day of the funeral. The service was held at the Wilshire Methodist Church.
