Despite Higher Assets, Revenues, Savings and Loan Sector Posts Loss / Due to Frontier Federal Loss
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 …
Questia, a part of Gale, Cengage Learning. www.questia.com
Publication information: Article title: Despite Higher Assets, Revenues, Savings and Loan Sector Posts Loss / Due to Frontier Federal Loss. Contributors: Not available. Newspaper title: THE JOURNAL RECORD. Publication date: May 15, 1986. Page number: Not available. © 2009 THE JOURNAL RECORD. Provided by ProQuest LLC. All Rights Reserved.