Home Federal Savings & Loan Assn. reported record earnings of $72.8 million, up 19%, for the year ended Dec. 31. Fourth-quarter earnings of $30 million were a record for any quarter since the San Diego-based S&L went public in early 1983 and were an increase over the $17.4-million net in last year's comparable quarter.
Home Federal's interest rate spread, or the difference between its cost of funds and what it receives on loans and investments, was 2.6 percentage points at the end of the year, compared to 2.19 percentage points in the previous year.
Fourth-quarter earnings included a gain on the sale of Home Federal's $333-million credit card portfolio.