Great American Reports Best Quarter Since ’83

Continued growth in the spread between its earning assets and its costs of funds helped San Diego-based Great American First Savings Bank to report its best-ever quarterly performance since converting to public ownership in August, 1983.

Earnings for the third quarter ended Sept. 30 rose 167% to $12.5 million, contrasted with the same period in 1984. Total assets grew 5% to $7.7 billion and deposits rose 3% to $5.4 billion. Total loans rose to $2.2 billion. The percentage of loans with adjustable-rate features rose from 44% to 47%.