Advertisement
YOU ARE HERE: LAT HomeCollections

Earnings

April 23, 1987

Great American First Savings Bank said its first-quarter earnings rose 87% to $30 million. Home Federal Savings & Loan posted a 17% profit increase to $27.2 million in the same period. Both firms are based in San Diego. Great American First said the quarter was its best ever, in large part because of gains of more than $80 million from the sale of loans and mortgage-backed securities. "The interest rate outlook in late January pointed to the advantage of selling fixed-rate securities, and we seized the opportunity to make the profit," Chairman Gordon C. Luce said. Home Federal Savings & Loan reported that "strong loan volume and increased net interest income" were responsible for its improved results.

Advertisement
Los Angeles Times Articles
|
|
|