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GlenFed Inc.’s net income rose 15% to...

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GlenFed Inc.’s net income rose 15% to $37.8 million. The Glendale-based parent company of Glendale Federal Savings & Loan Assn. attributed the gain to strong earnings from core savings and loan operations and its Subsidiary Group despite increasing interest rates, reduced interest rate spread and a slowdown in real estate activity.

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