Printer Friendly

CONTINENTAL SAVINGS OF AMERICA ANNOUNCES EARNINGS FOR THE QUARTER ENDED MARCH 31, 1992

 CONTINENTAL SAVINGS OF AMERICA ANNOUNCES EARNINGS
 FOR THE QUARTER ENDED MARCH 31, 1992
 SAN FRANCISCO, April 22 /PRNewswire/ -- Continental Savings of America (NASDAQ: CSAV), a federally chartered savings and loan, reports a profit for the three month period ended March 31, 1992 of $1.8 million or $.64 per share. Continental reported earnings of $1 million or $.38 per share for the same period a year ago. Net income for the three month period ending March 31, 1991 was subsequently restated to include the recognition of an extraordinary gain of $1.65 million, $.61 per share, which was due to a one-time cumulative effect of a change in accounting for income taxes.
 The provision for loan losses was $156,000 for the current three month period versus $207,000 for the same period a year ago. Total assets were $590 million at March 31, 1992, compared to $610 million at March 31, 1991.
 According to Charles A. Chenes, chairman, president and chief executive officer, "The increase in income from recurring operations is the result of an improved interest margin and a continued emphasis on mortgage banking operations."
 Continental Savings has six savings branch offices in the San Francisco area and eight loan origination offices in Northern and Southern California with its headquarters at 250 Montgomery Street, San Francisco.
 -0- 4/22/92
 /CONTACT: Ernest Jurdana of Continental Savings of America, 415-274-3001/
 (CSAV) CO: Continental Savings of America ST: California IN: FIN SU: ERN


MM-DG -- SF001 -- 1069 04/22/92 09:05 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 22, 1992
Words:252
Previous Article:U.S. ENERGY REPORTS THIRD QUARTER PROFIT VS. PRIOR-YEAR LOSS
Next Article:CRESTED REPORTS NET INCOME FOR THIRD QUARTER AND NINE MONTHS


Related Articles
INTERWEST SAVINGS BANK ANNOUNCES CONTINUED STRONG QUARTERLY EARNINGS
AHMANSON REPORTS 26.6 PERCENT INCREASE IN FIRST QUARTER EARNINGS
AHMANSON REPORTS 26.6 PERCENT INCREASE IN FIRST QUARTER EARNINGS
JOHNSTOWN SAVINGS BANK ANNOUNCES FIRST QUARTER EARNINGS
CONTINENTAL MORTGAGE AND EQUITY TRUST REPORTS FIRST QUARTER RESULTS
NORTHBAY FINANCIAL RELEASES EARNINGS
CONTINENTAL SAVINGS OF AMERICA ANNOUNCES EARNINGS FOR THE PERIOD ENDING JUNE 30, 1992
CONTINENTAL SAVINGS COMPLETES RECAPITALIZATION PLAN, ANNOUNCES 1992 EARNINGS AND FIRST CASH DIVIDENDS ON COMMON AND PREFERRED SHARES
COASTAL BANC SAVINGS FIRST QUARTER EARNINGS UP FROM PRIOR YEAR
CONTINENTAL SAVINGS OF AMERICA ANNOUNCES EARNINGS FOR THE PERIOD ENDED MARCH 31, 1993

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters