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SFFED RELEASES AUGUST CONSOLIDATED FINANCIAL HIGHLIGHTS

 SAN FRANCISCO, Sept. 21 /PRNewswire/ -- SFFed Corp. (NASDAQ: SFFD) today released the following financial highlights:
 SELECTED CONSOLIDATED FINANCIAL HIGHLIGHTS
 As Of August 31, 1993
 (Unaudited)
 (000'S omitted)
 Maturity/Rate
 Sensitivity
 Interest Earning Assets: Rate Total 0-6 mos.
 (percent)
 Investments 3.01 $160,172 160,172
 Construction Loans 8.75 29,564 29,487
 Real Estate Loans Receivable 7.01 2,418,976 2,202,227
 Loans Held For Sale 6.42 48,913 25,239
 Mortgage-backed Securities 6.14 405,024 364,205
 Consumer and Other Loans 8.74 94,818 73,597
 Unamortized Rate Adjustments (6,898) (6,898)
 Total 6.77 $3,150,569 2,848,029
 Interest Bearing Liabilities:
 Customer Deposits:
 Checking 1.11 146,231 14,727
 Passbook 2.39 69,749 11,650
 MMDA 2.25 22,400 1,920
 Money Market 2.79 518,801 518,801
 Jumbo & Other C.D.s 4.82 1,592,668 705,676
 Total Deposits 4.04 2,349,849 1,252,774
 Borrowings 4.99 741,408 507,881
 Total 4.27 $3,091,257 1,760,655
 Off-balance Sheet:
 Hedges Against Loans Held For
 Sale 0 23,674
 Total 0 23,674
 Interest Earning Assets Over
 (Under) Interest Bearing
 Liabilities 59,312 1,063,700
 Cumulative Difference (Gap) 1,063,700
 Cumulative Gap as a Percentage
 of Interest Earning Assets 33.76
 Interest Earning Assets: 7-12 mos. 1-3 years over 3 year
 Investments 0 0 0
 Construction Loans 77 0 0
 Real Estate Loans Receivable 83,043 51,481 82,225
 Loans Held For Sale 0 0 23,674
 Mortgage-backed Securities 13,418 13,703 13,698
 Consumer and Other Loans 5,318 10,176 5,727
 Unamortized Rate Adjustments 0 0 0
 Total 101,856 75,360 125,324
 Interest Bearing Liabilities:
 Customer Deposits:
 Checking 13,243 40,914 77,347
 Passbook 9,704 25,097 23,298
 MMDA 1,754 5,621 13,105
 Money Market 0 0 0
 Jumbo & Other C.D.s 347,259 306,856 232,877
 Total Deposits 371,960 378,488 346,627
 Borrowings 123,961 103,186 6,380
 Total 495,921 481,674 353,007
 Off-balance Sheet:
 Hedges Against Loans Held For
 Sale 0 0 (23,674)
 Total 0 0 (23,674)
 Interest Earning Assets Over
 (Under) Interest Bearing
 Liabilities (394,065) (406,314) (251,357)
 Cumulative Difference (Gap) 669,635 263,321 11,964
 Cumulative Gap as a Percentage
 of Interest Earning Assets 21.25 8.36 0.38
 Benefit of Loan Prmium/Discount
 Amortization 0.09 pct.
 Impact of Hedging Activity 0.00 pct.
 Adjusted Earning Asset Rate Less Adjusted
 Interest Bearing Liability Rate 2.59 pct.
 Excess Earning Asset Benefit 0.08 pct.
 Interest Margin on Earning Assets 2.67 pct.
 Interest Margin on Total Assets 2.52 pct.
 Other Selected Data:
 Total Assets $3,333,270
 Ratio of Nonperforming Assets to Total Assets 3.77
 Current Month YTD
 Loans Originated $105,016 $722,271
 Loans Purchased 0 277
 Loans Sold 37,438 219,932
 Mortgage-backed Securities Purchased 0 142,262
 Mortgage-backed Securities Sold 0 0
 Customer Deposits Increase (Decrease) (9,076) 78,320
 -0- 9/21/93
 /CONTACT: Marilu Rumolo-Boucher of SFFed Corp., 415-955-3083/
 (SFFD)


CO: SFFed Corp. ST: California IN: FIN SU:

TM -- SF015 -- 4270 09/21/93 15:07 EDT
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Date:Sep 21, 1993
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