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Commonwealth Savings announces significant provision to loss reserves, intention to go private, year end results. (Commonwealth Savings Association)
PR Newswire
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September 28, 1987
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COPYRIGHT 1987 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group.
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COMMONWEALTH SAVINGS ANNOUNCES SIGNIFICANT PROVISION TO LOSS
RESERVES, INTENTION TO GO PRIVATE, YEAR END RESULTS
HOUSTON, Sept. 28 /PRNewswire/ -- Aggressively addressing the continuation of widespread weaknesses in the Texas real estate markets as reflected in an unprecedented jump in foreclosures and significantly reduced appraisal values in the fourth quarter, Commonwealth Savings Association (NASDAQ: CFGI) announced today that it has added very substantial reserves against possible losses on loans and other assets.
During the fourth ...
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