Coast Savings & Loan’s earnings fell 25%...
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Coast Savings & Loan’s earnings fell 25% to $11.3 million for the first quarter. The Los Angeles savings and loan said income was affected by a change in accounting that resulted in a much larger deferral of collected loan fees and that income from real estate operations declined sharply. Los Angeles-based Calfed, a diversified financial services company, posted a 19% decline in earnings to $35.8 million for its first quarter. Calfed’s principal subsidiary is California Federal Savings & Loan Assn.
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