Mercury Savings & Loan: The Huntington Beach...
From Times Staff and Wire Service Reports
Mercury Savings & Loan: The Huntington Beach thrift lost $53 million during the first quarter, or as much as the thrift lost in 1988 and 1989 combined, according to records released by federal regulators Friday. But according to figures compiled by the federal Office of Thrift Supervision, the thrift took a $56.8-million writeoff of assets during the quarter, the main reason for the loss. The S&L; has nearly $2 billion in assets. An unexpectedly large number of homeowners paid off mortgages early, leaving Mercury with losses.
Tables, D10
