Parent Firm to Bolster Republic Federal Funding
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Republic Federal Savings & Loan said its parent company, Weyerhaeuser Co., has agreed to inject $35 million into the Woodland Hills thrift to help Republic meet new federal capital requirements.
The rules, which took effect Dec. 7, are aimed at bolstering S&L; capital levels so they have a greater cushion against losses from bad loans. Weyerhaeuser, based in Tacoma, Wash., is primarily a major paper products concern.
Republic also said it has been shedding assets and cutting costs to improve its capital base. The thrift has sold $400 million of loans in recent months, and its assets as of Nov. 30 totaled $1.7 billion.
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