Los Angeles-based California Federal Bank reported earnings...
From Times Wire Services
Los Angeles-based California Federal Bank reported earnings of $13 million, or 13 cents a share, for its fourth quarter, contrasted with a loss of $53.7 million, or $2.22 per share, for the previous fourth quarter.
California Federal said it lost $423.1 million in calendar 1994, contrasted with a $145.5-million loss in 1993.
“Notwithstanding the effect of industrywide spread compression on net interest income, the bank’s fourth quarter marks the beginning point in our return to a more normalized operating environment,” said Edward G. Harshfield, California Federal president and CEO.
