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Stephen Trafton

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BUSINESS
November 30, 1993 | DON LEE, TIMES STAFF WRITER
Having just narrowly completed a $451-million recapitalization that saved the big savings and loan from government seizure, Glendale Federal Bank now faces another daunting task: making a profit. Though no longer threatened by regulators, the nation's fifth-largest S&L is still stuck in California's depressed economy and real estate market. Glendale's ratio of delinquent loans to total loans remains close to 5%, versus an average of less than 3% for the S&L industry in Southern California.
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BUSINESS
November 30, 1993 | DON LEE, TIMES STAFF WRITER
Having just narrowly completed a $451-million recapitalization that saved the big savings and loan from government seizure, Glendale Federal Bank now faces another daunting task: making a profit. Though no longer threatened by regulators, the nation's fifth-largest S&L is still stuck in California's depressed economy and real estate market. Glendale's ratio of delinquent loans to total loans remains close to 5%, versus an average of less than 3% for the S&L industry in Southern California.
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BUSINESS
January 14, 1992
Glendale Federal Bank, the main subsidiary of Glenfed Inc., said it has reached an agreement to sell up to $500 million of its fixed home-equity loans to Household International Inc., a Prospect Heights, Ill., financial services company. Terms of the sale, which is expected to close March 1, were not disclosed.
BUSINESS
September 24, 1993 | From Times Staff and Wire Reports
OTS Lifts Order: Glendale Federal Bank said the Office of Thrift Supervision has lifted an order that would have required the thrift to meet higher than average capital levels by the end of 1994. The OTS rescinded the prompt corrective action order because of Glendale Federal's "dramatically improved capital position," a result of its $451-million recapitalization last month, thrift Chairman Stephen J. Trafton said. The recision removes a number of operating restrictions on the bank, he said.
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