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First Mutual Suffers 4.5 Million In Losses
First Mutual Savings Association reports a 4.5 million fourth quarter loss due to oil and gas loan default risk. For year ending June 30 1985 net income fell to 335 000 from 5 million prior year.Residential and commercial lending along with deposits increased as loan portfolio rose 8 percent to 609 million and deposits to 555 million.
MENTIONED IN THIS ARTICLE
First Mutual
First Mutual Savings Association
E.W. Hopkins
S&L’s
Fort Walton Beach
Shalimar, Destin
Mary Esther
Hopkins