Pacific Thrift Reports Improved Capital Status
Pacific Thrift and Loan, a Woodland Hills-based subsidiary of Presidential Mortgage Co., said its capital condition had improved sufficiently for the institution to be deemed adequately capitalized by the Federal Deposit Insurance Corp.
Pacific was considered critically undercapitalized by the FDIC as of Oct. 31, 1994. But the company’s president, Richard D. Young, said improved earnings through the March 31 quarter helped lift Pacific’s capital ratios.
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