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REGIONAL EARNINGS

Glendale Federal Bank Reports Profit Increase

October 31, 1995

Glendale Federal Bank, continuing its financial recovery after narrowly avoiding government seizure two years ago, reported that its profit rose 47% in its fiscal first quarter.

The Glendale-based savings institution said it earned $13.8 million in the three months ended Sept. 30, compared to $9.97 million in net income a year before.

Glendale Federal attributed the improvement to lower credit-related costs and administrative expenses.

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