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PROFITS UP FOR CALIFORNIA SAVINGS INDUSTRY

 PROFITS UP FOR CALIFORNIA SAVINGS INDUSTRY
 LOS ANGELES, March 10 /PRNewswire/ -- California's private savings


institutions reported fourth quarter 1991 earnings of $238.3 million, marking the industry's first year of profitability since 1988. "These numbers confirm the turnaround that has taken place in our industry," according to Jay Janis, president of the California League of Savings Institutions, who noted that the earnings were positive despite the impact from declining California real estate values.
 "The private, healthy institutions that have concentrated on good management and focused on the business of home lending have lead us back to profitability. This is especially good news for borrowers looking for strong institutions to serve their financial needs," said Janis.
 Earnings for non-RTC savings institutions in California were $218.4 million for 1991, up from a loss of $887.9 million for 1990.
 The California League of Savings Institutions is the statewide trade association for California's savings industry.
 -0- 3/10/92
 /CONTACT: Kathy Wedeking of the California League of Savings Institutions, 310-670-6300/ CO: California League of Savings Institutions ST: California IN: FIN SU: ERN


EH-JL -- LA030 -- 7038 03/10/92 16:24 EST
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Publication:PR Newswire
Date:Mar 10, 1992
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