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SFFED RELEASES NOVEMBER CONSOLIDATED FINANCIAL HIGHLIGHTS

 SFFED RELEASES NOVEMBER CONSOLIDATED FINANCIAL HIGHLIGHTS
 SAN FRANCISCO, Dec. 17 /PRNewswire/ -- SFFed Corp. (NASDAQ: SFFD) today released the following financial highlights:
 SELECTED CONSOLIDATED FINANCIAL HIGHLIGHTS
 AS OF NOV. 30, 1991
 (Unaudited)
 (000's omitted)
 Maturity/Rate
 Sensitivity
 Interest Earning Assets: Rate Total 0-6 mos.
 (percent)
 Investments 4.90 $217,518 217,518
 Construction Loans 10.07 99,240 99,240
 Real Estate Loans Receivable 9.34 2,327,278 2,011,852
 Loans Held For Sale 8.59 42,204 0
 Mortgage-backed Securities 8.51 418,412 333,580
 Consumer and Other Loans 10.88 88,614 50,499
 Unamortized Rate Adjustments (7,159) (6,315)
 Total 9.01 $3,186,107 2,706,374
 Interest Bearing Liabilities:
 Customer Deposits:
 Checking 3.46 120,919 12,116
 Passbook 4.60 56,119 6,406
 MMDA 2.57 51,180 3,063
 Money Market 5.84 619,022 619,022
 Jumbo & Other C.D.'s 6.61 1,622,175 1,092,179
 Total Deposits 6.13 2,469,415 1,732,786
 Borrowings 8.39 665,218 195,979
 Total 6.61 $3,134,633 1,928,765
 Off-balance Sheet:
 Swap on Mortgage-backed Bond 0 100,000
 Hedges Against Loans Held for
 sale 0 (40,619)
 Forward Borrowings 0 (25,000)
 Total 0 34,381
 Interest Bearing Liabilities
 Over (Under) interest
 Earning Assets $(51,474) (743,228)
 Cumulative Difference (Gap) (743,228)
 Cumulative Gap as a Percentage
 of Interest Earning Assets -23.33
 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 86,815 64,879 163,732
 Loans Held For Sale 2,670 0 39,534
 Mortgage-Backed Securities 19,488 17,478 47,866
 Consumer and Other Loans 6,747 17,247 14,121
 Unamortized Rate Adjustments (11) (28) (805)
 Total 115,709 99,576 264,448
 Interest Bearing Liabilities:
 Customer Deposits:
 Checking 10,733 32,001 66,069
 Passbooks 5,675 16,920 27,118
 MMDA 2,714 8,090 37,313
 Money Market 0 0 0
 Jumbo & Other C.D.'s 264,074 185,748 80,174
 Total Deposits 283,196 242,759 210,674
 Borrowings 135,783 127,581 205,875
 Total 418,979 370,340 416,549
 Off-Balance Sheet:
 Swap On Mortgage-Backed Bond 0 (100,000)
 Hedges Against Loans Held For
 Sale 2,670 37,949
 Forward Borrowings 25,000 0 0
 Total 27,670 0 (62,051)
 Interest Bearing Liabilities
 Over (Under) interest
 Earning Assets 330,940 270,764 90,050
 Cumulative Difference (Gap) (412,288) (141,524) (51,474)
 Cumulative Gap as a Percentage
 of Interest Earning Assets -12.94 -4.44 -1.62
 Benefit of Loan Premium/Discount
 Amortization 0.16 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 0.11 pct.
 Interest Margin on Earning Assets 2.84 pct.
 Interest Margin on Total Assets 2.68 pct.
 Other Selected Data:
 Total Assets $3,371,129
 Ratio of Nonperforming Assets to Total Assets 3.37 pct.
 Current Month YTD
 Loans Originated $61,247 $702,637
 Loans Purchased 46 1,023
 Loans Sold 25,576 329,789
 Mortgage-Backed Securities Purchased 0 0
 Mortgage-Backed Securities Sold 0 0
 Customer Deposits Increase (Decrease) 34,850 (37,212)
 -0- 12/17/91
 /CONTACT: Marilu Rumolo-Boucher of SFFed Corp., 415-955-3083/
 (SFFD) CO: SFFed Corp. ST: California IN: FIN SU:


RM -- SF008 -- 3204 12/17/91 18:45 EST
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Date:Dec 17, 1991
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