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FIRST NATIONWIDE FINANCIAL REPORTS SECOND QUARTER RESULTS

 FIRST NATIONWIDE FINANCIAL REPORTS SECOND QUARTER RESULTS
 SAN FRANCISCO, July 29 /PRNewswire/ -- First Nationwide Financial Corp. today announced a loss of $16 million for the second quarter of 1992. This compares with a loss of $7 million for the same period last year. The results continue to reflect higher-than-normal credit losses and non-performing assets.
 Within First Nationwide Bank, non-performing asset levels improved by $65 million during the second quarter to $1.3 billion at June 30, 1992. First Nationwide Financial's net interest margin was 2.37 percent for the second quarter, compared with 1.97 percent a year ago. Operating costs were $121 million for the second quarter of 1992, compared with $128 million for the same period last year.
 First Nationwide Financial Corp.'s banking subsidiaries' capital levels exceed all federal capital requirements. Compared with the core capital requirement of 3.0 percent, First Nationwide Bank was at 4.7 percent and Columbia Savings was at 8.9 percent at the end of this year's second quarter.
 First Nationwide Financial's assets, including those of its subsidiaries -- First Nationwide Bank and Columbia Savings -- were $21.2 billion on June 30, 1992. The company had $14.8 billion in loans outstanding and $15.2 billion in deposits.
 First Nationwide Financial Corp., a wholly owned subsidiary of Ford Motor Co. (NYSE: F), is part of the Ford Financial Services Group. First Nationwide Financial operates 235 retail branches in 11 states and 32 loan offices in eight states.
 -0- 7/29/92
 /CONTACT: Beth Quartarolo of First Nationwide Financial, 415-904-1202/
 (F) CO: First Nationwide Bank ST: California IN: FIN SU: ERN


RM -- SF005 -- 4561 07/29/92 11:14 EDT
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Publication:PR Newswire
Date:Jul 29, 1992
Words:277
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