The FHLBB appointed a new Eureka Federal board.

Eureka Federal Savings & Loan's new board of directors includes Robert L. Rand, Collins Butler, Philip A. Larson, Timothy McDonnell and Raymond A. Rodeno. Rand was also elected chairman of the board. The Federal Home Loan Bank Board said that it took the action in an effort to find a solution to Eureka's mounting losses due to problem loans, which were leading the association toward insolvency. The association has signed a management contract with Home Savings & Loan Assn. of San Diego to operate the association under the direction of the new board. The San Carlos-based S&L; is a mutual association with $1.6 billion in assets and 37 offices in Northern California.

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