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EARNINGS

July 21, 1987

H. F. Ahmanson reported that earnings fell sharply during the second quarter, to $32.27 million from $76.59 million. The Los Angeles parent of Home Savings & Loan said reduced earnings were the result of the writeoff of its $24-million investment in the FSLIC Secondary Reserve and the decision to postpone approximately $1 billion of planned sales of adjustable rate mortgage-backed securities. In addition, the company increased its provision for loan losses by $10.2 million during the quarter.

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