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GREGORY BURDICK ELECTED EXECUTIVE VICE PRESIDENT, CALIFORNIA FEDERAL BANK; WILL HEAD RESIDENTIAL LENDING DIVISION

 LOS ANGELES, May 26 /PRNewswire/ -- California Federal Bank (NYSE: CAL) today said that its board of directors elected Gregory E. Burdick executive vice president of residential lending. Burdick will join the company on June 1, 1993.
 In this position, Burdick will be responsible for California Federal Bank's nationwide residential lending throughout its 17 satellite sales offices and four loan centers in California, Florida and Nevada. Burdick will oversee retail and wholesale residential lending, consumer lending, multifamily lending and loan servicing.
 "We welcome Greg's extensive experience in real estate lending, particularly in originating adjustable rate mortgages," said William Callender, president and chief executive officer of California Federal Bank. "His background blends perfectly with our plans to significantly increase loan production over the near and long term."
 Burdick, 44, joins California Federal after 21 years with Home Savings of America, where for four years he was senior vice president and director of Home's nationwide residential lending division, focusing almost exclusively on adjustable rate mortgage originations. Burdick also headed Home's residential lending expansion efforts in Florida in the early 1980s. His most recent post at Home Savings was as senior vice president and director of nationwide appraisal operations.
 Burdick resides in San Marino, Calif., with his wife, Claudette, and their two sons.
 California Federal Bank, FSB, with approximately $17 billion in assets, provides retail banking services through its 183 savings and lending offices in California, Florida, Nevada and Georgia.
 -0- 5/26/93
 /CONTACT: James F. Hurley, 213-930-9750, or Frank W. Moore, 213-932-4203, both of CalFed/
 (CAL)


CO: California Federal Bank ST: California IN: FIN SU: PER

JB -- LA010 -- 2405 05/26/93 11:24 EDT
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Publication:PR Newswire
Date:May 26, 1993
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