H. F. Ahmanson’s Net Falls in 4th Quarter and Year
The parent company of Los Angeles-based Home Savings of America said profits fell 24% in the fourth quarter and 49% for the entire year, compared to year-earlier totals.
H. F. Ahmanson & Co. said profits dropped to $20.1 million in the fourth quarter of 1984 from $26.4 million in the fourth quarter of 1983. Annual earnings fell to $54.7 million last year from $108 million the year before.
The results would have been lower had it not been for a one-time gain of $6.4 million in the final period that came as a result of a preferred stock dividend from the Federal Home Loan Mortgage Corp.
Ahmanson blamed the sharp drop in earnings on lower investment gains in the sales of loan, real estate and mortgage-backed securities and a $1.97-million loss in its insurance operations in the fourth quarter.
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