CalFed Inc.: The Los Angeles parent of...

CalFed Inc.: The Los Angeles parent of California Federal Bank said first-quarter net income plunged 74% to $4.9 million. The company’s loan-loss reserve was $227.9 million on March 31, compared to $239.6 million on Dec. 31 and $130.2 million on March 31, 1990. Non-performing assets (non-accrual, past-due and restructured loans and real estate acquired in settlement of loans) totaled $870.8 million, or 3.71% of assets, at the end of the quarter, compared to $788.1 million, or 3.22% of assets, on Dec. 31, 1990.