CalFed Posts Record $50-Million Profit
CalFed, the parent of Los Angeles-based California Federal Savings & Loan, reported a record profit of $50 million in the third quarter ended Sept. 30, an increase of 3.1% from the year-ago period.
CalFed Chairman George P. Rutland said the increase resulted from continued strong loan volume, a rise in interest income and an increase in non-real estate income.
California Federal Savings, which contributed $44.5 million of the parent company’s profit, had a loan volume of $1.8 billion in the third quarter, unchanged from year-earlier levels.
CalFed’s nine-month earnings reached $135 million, up almost 4% from a year earlier. CalFed has $23.1 billion in assets, making it one of the nation’s largest savings and loan companies.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
