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Mercury Savings & Loan: The Huntington Beach...

Mercury Savings & Loan: The Huntington Beach institution reported a third-quarter loss of $3.8 million, contrasted with a profit of $1.4 million a year ago. Revenue totaled $54.8 million, down 7%. The results were due in part to the firm’s previously announced plan to reduce its size to $2 billion from $2.25 billion by year-end. The quarter saw a charge on the sale of loans as the impact of the spring and summer refinancing due to lower interest rates was felt in the association’s loan-servicing portfolio.


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