* Golden West Financial Corp., the parent...
From Times Wire Services
* Golden West Financial Corp., the parent of World Savings & Loan Assn., said its profit hit a record high in the second quarter ended June 30. Earnings for the 90-day period were $74 million, or $1.16 a share, a 20% increase from the same period last year, when they were $62 million, or 97 cents a share.
The Oakland-based company said its net worth climbed $257 million from June 30, 1992. Its assets at the end of the quarter were $25.4 billion.
While Golden West’s portfolio of non-performing loans remains a low 1.25% of assets, it increased its provisions for possible loan losses by 75% in the quarter to $11 million.
