CalFed Inc.: The Los Angeles parent of...
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From Times Staff and Wire Reports
CalFed Inc.: The Los Angeles parent of California Federal Bank said first-quarter net income rose 8% to $18.9 million. Net interest income in the financial services segment, the primary source of earnings, grew 28% to $128.5 million. CalFed’s results benefited from a $1.3-million net gain on the sale of its London-based Anglo American Insurance Co. unit. California Federal Bank’s interest rate spread at March 31 was 2.24%, compared to 1.47% a year before.
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