BANKING
From Times Staff and Wire Reports
GlenFed Sells $226 Million in Bad Loans: Glendale Federal Bank said it sold the bad real estate and commercial loans to Aldrich Eastman Waltch, Colony Capital Inc., Oxford Life Insurance Co. and Wells Fargo Bank. The thrift announced its plans to seek a buyer for the foreclosed properties and soured loans in April as part of its efforts to shore up its balance sheet. GlenFed said the sale reduces its non-performing assets by $186 million, or 22%.
