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SFFED RELEASES DECEMBER CONSOLIDATED FINANCIAL HIGHLIGHTS

 SFFED RELEASES DECEMBER CONSOLIDATED FINANCIAL HIGHLIGHTS
 SAN FRANCISCO, Jan. 22 /PRNewswire/ -- SFFed Corp. (NASDAQ: SFFD) today released the following financial highlights:
 SELECTED CONSOLIDATED FINANCIAL HIGHLIGHTS
 AS OF Dec. 31, 1991
 (Unaudited)
 (000's omitted)
 Maturity/Rate
 Sensitivity
 Interest Earning Assets: Rate Total 0-6 mos.
 (percent)
 Investments 5.06 $174,018 174,018
 Construction Loans 9.88 95,793 95,793
 Real Estate Loans Receivable 9.24 2,306,656 2,011,135
 Loans Held For Sale 8.50 43,255 1,196
 Mortgage-backed Securities 8.37 410,520 327,376
 Consumer and Other Loans 10.34 89,790 52,669
 Unamortized Rate Adjustments (7,270) (6,287)
 Total 8.96 $3,112,762 2,655,900
 Interest Bearing Liabilities:
 Customer Deposits:
 Checking 3.13 118,479 11,910
 Passbook 4.50 55,770 6,367
 MMDA 2.46 51,430 2,964
 Money Market 5.79 657,213 657,213
 Jumbo & Other C.D.'s 6.50 1,557,242 1,044,695
 Total Deposits 6.01 2,440,134 1,723,149
 Borrowings 8.38 650,186 184,973
 Total 6.51 $3,090,320 1,908,122
 Off-balance Sheet:
 Swap on Mortgage-backed Bond 0 100,000
 Hedges Against Loans Held for
 Sale 0 (41,623)
 Forward Borrowings 0 (25,000)
 Total 0 33,377
 Interest Bearing Liabilities
 Over (Under) Interest
 Earning Assets $(22,442) (714,401)
 Cumulative Difference (Gap) (714,401)
 Cumulative Gap as a Percentage
 of Interest Earning Assets -22.95
 Maturity/Rate Sensitivity
 Interest Earning Assets: 7-12 mos. 1-3 years over 3 years
 (percent)
 Investments 0 0 0
 Construction Loans 0 0 0
 Real Estate Loans Receivable 79,558 56,233 159,730
 Loans Held For Sale 125 0 41,934
 Mortgage-Backed Securities 19,073 17,138 46,933
 Consumer and Other Loans 6,769 16,733 13,619
 Unamortized Rate Adjustments (5) (27) (951)
 Total 105,520 90,077 261,265
 Interest Bearing Liabilities:
 Customer Deposits:
 Checking 10,551 31,456 64,562
 Passbooks 5,640 16,815 26,948
 MMDA 2,626 7,829 38,011
 Money Market 0 0 0
 Jumbo & Other C.D.'s 246,552 182,145 83,850
 Total Deposits 265,369 238,245 213,371
 Borrowings 131,751 127,566 205,896
 Total 397,120 365,811 419,267
 Off-Balance Sheet:
 Swap On Mortgage-Backed Bond 0 (100,000)
 Hedges Against Loans Held For
 Sale 125 41,498
 Forward Borrowings 25,000 0 0
 Total 25,125 0 (58,502)
 Interest Bearing Liabilities
 Over (Under) Interest
 Earning Assets 316,725 275,734 99,500
 Cumulative Difference (Gap) (397,676) (121,942) (22,442)
 Cumulative Gap as a Percentage
 of Interest Earning Assets -12.78 -3.92 -0.72
 Benefit of Loan Premium/Discount
 Amortization 0.11 pct.
 Impact of Hedging Activity 0.17 pct.
 Adjusted Earning Asset Rate Less
 Adjusted Interest Bearing
 Liability Rate 2.73 pct.
 Excess Earning Asset Benefit 0.05 pct.
 Interest Margin on Earning Assets 2.78 pct.
 Interest Margin on Total Assets 2.61 pct.
 Other Selected Data:
 Total Assets $3,317,458
 Ratio of Nonperforming Assets to Total Assets 3.73 pct.
 Current Month YTD
 Loans Originated $65,846 $768,483
 Loans Purchased 0 1,023
 Loans Sold 38,612 368,401
 Mortgage-Backed Securities Purchased 0 0
 Mortgage-Backed Securities Sold 0 0
 Customer Deposits Increase (Decrease) (29,281) (66,494)
 -0- 1/22/92
 /CONTACT: Marilu Rumolo-Boucher of SFFed Corp., 415-955-3083/
 (SFFD) CO: SFFed Corp. ST: California IN: FIN SU:


RM -- SF005 -- 2353 01/22/92 13:27 EST
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Date:Jan 22, 1992
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