Despite Higher Assets, Revenues, Savings and Loan Sector Posts Loss / Due to Frontier Federal Loss

Article excerpt

Despite higher assets and revenues, the savings and loan sector posted a net loss due to a sizeable loss by Frontier Federal of Ponca City.

With each of the four savings and loan associations represented in this sector participating, assets increased 6 percent to $4.1 billion. Revenues, meanwhile, rose 7 percent to $452 million.

Both Sooner Federal and Continental Federal added to their profit levels, with the former rising more than three-fold. Although up 4 percent on average, market price activity was divided, with only Continental Federal and Local Federal increasing in value.

It is interesting to note that althoughSooner Federal's capital position is $20.1 million greater than Local Federal, it's market value is only $4.4 million more. As of the end of April, Sooner's market value was $10.4 million below its Oklahoma City-based competitor.

Continental Federal posted the largest gain in all financial categories. Local Federal's 16 percent increase in market price was the largest in the sector. …