CALIFORNIA - News from March 22, 1987

John M. Teutsch Jr. has resigned as chairman of Seattle-based Rainier Mortgage Co. to take the post of executive vice president of CompuFund Inc., San Francisco, a computerized mortgage-origination network.

Rainier Mortgage is a unit of Rainier Bancorp, which is being acquired by Security Pacific Bancorp.

Teutsch will also serve as chairman of CompuFund’s executive committee and as executive vice president of its mortgage banking subsidiary, Network Funding Corp. The appointments take effect April 1. He is also president-elect of the Mortgage Bankers Assn. of America.