UnionFed Financial Corp. Expects Loss: The Brea...
From Times Staff and Wire Reports
UnionFed Financial Corp. Expects Loss: The Brea holding company for Union Federal Savings Bank said that it is revising previously announced earnings and that it expects to report a “significant loss” for the year ended June 30. Previously, the firm reported earnings of $11.1 million for the year. The restatement is because of “substantial additional provisions for possible losses on loans and real estate” expected as a result of a current examination by federal regulators, the company said.
